Torrent Pharmaceuticals has declared a 1:1 bonus issue, with Monday, 11 July fixed as the record date. Those holding 100 shares of the company on 8 July will own 200 shares as of 11 July. With the number of Torrent Pharma shares in the market doubling, the price of the shares dropped by close to 50 per cent on Friday, from around Rs 3,000 to Rs 1,500.
The Ahmedabad-based Torrent Pharma has given a dividend of 460 per cent in the fourth quarter of the financial year 2021-22, which includes a special dividend of ₹15 per equity share. The pharma company has already given ₹25 per share dividend to its shareholders in the previous quarter. The final dividend amount is to be dispatched on or around 4th August, 2022. The market capitalisation of the company is around Rs 25,000 crore and annual turnover is Rs 8508 crore (2021-22).
Torrent Pharma has manufacturing units in Indrad and Dahej in Gujarat as well as Baddi, Himachal Pradesh; Pithampur in Madhya Pradesh; Vizag and two units in Sikkim. It is the flagship company of the Torrent group, which is also into electricity and gas.