Pharma stock sets record date for 1:10 stock split, net income up 281% in Q3

A small-cap pharmaceutical company with a market worth of ₹59.14 Cr is Vivanza Biosciences Ltd. The company is a bioscience-related pharmaceutical production and marketing enterprise. Vivanza Biosciences Ltd, with its headquarters in Gujarat, India, was founded in April 2016. For the purpose of determining the eligibility of the shareholders for 1:10 stock split issue, the Board of Directors of the company has declared record date which market observers may take into account.

Vivanza Biosciences said today in a stock exchange filing that “we wish to inform you that the Board of Directors of the Company at its meeting held today i.e. Saturday, March 04, 2023 at Registered Office of the Company has inter alia considered and approved the Friday, March 24, 2023 Record Date for the purpose of determining eligibility of shareholders for the purpose of subdivision of one (1) Equity Share having face value of Rs.10/- (Rupees Ten) each into 10 (Ten) Equity Shares of nominal value of Rs. 1/- each in the Share Capital of the Company.”

During Q3FY23, the company recorded a net income of ₹5.87 Cr on a consolidated basis, up by 281% YoY from ₹1.54 Cr recorded in Q3FY22. The company reported net expenses of ₹5.30 Cr during the quarter ended December 2022, up by 255.70% from ₹1.49 Cr recorded in the quarter ended December 2021. Vivanza Biosciences said its EBIT reached ₹0.57 Cr in Q3FY23 compared to ₹0.05 Cr in the year-ago quarter, whereas the net profit stood at ₹0.46 Cr compared to a net loss of ₹0.05 posted in the same quarter last year. The EPS of Vivanza Biosciences stood at ₹1.15, up from a loss of ₹0.12 in Q3FY22.

On Friday, the shares of Vivanza Biosciences closed on the BSE at ₹147.85 apiece, down by 4.98% from the previous close of ₹155.60. The stock recorded a net volume average of 1,654 shares and a deliverable volume average of 1,480 shares. In the last 1 year the stock has fallen 5.22% and on a YTD basis, it has fallen 9.74% so far in 2023. The stock touched a 52-week-high of ₹195.00 on (22/06/2022) and a 52-week-low of ₹115.55 on (14/12/2022). During Q3FY23, the company recorded a promoter shareholding of 47.80% and a public stake of 52.20%.

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