Zydus Wellness Announces First-Ever Stock Split In 1:5 Ratio
The record date will be announced seperately.
Zydus Wellness Ltd. on Wednesday announced a stock split in the 1:5 ratio via an exchange filing from the company.
One equity share having a face value of Rs 10 will be split into five equity shares with face value of Rs 2. The record date will be announced separately, the filing said.
The authorised share capital is Rs 100 crore divided into 50 crore shares of Rs 2 per share. The issued share Rs 63 crore divided into 32 crore shares of Rs 2 per share. The expected time of completion is within two months from Wednesday.
Chief Executive Officer Tarun Arora said that he was confident that the firm would achieve up to 18% earnings before interest, taxes, depreciation and amortisation margin by fiscal 2027.
"We want to get back to a 17% to 18% EBITDA margin over the next couple of years. We've been able to consolidate and improve our gross margins and there is still scope for building another 1% to 2% gross margin in the next couple of years," he said.
Shares of Zydus Wellness closed 2.10% higher at Rs 2,054.70 apiece on the NSE, compared to a 0.14% rise in the benchmark Nifty. The stock has fallen 13.81% in the last 12 months and risen 4.23% on a year-to-date basis.
Out of six analysts tracking the company, five have a 'buy' rating on the stock, one recommends 'hold', according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside of 13%.
