Vaishali Pharma Ltd Announces Bonus Shares and Global Expansion

Mumbai-based Vaishali Pharma Ltd has approved a bonus share issue at a 1:1 ratio and a stock split, aiming to reward shareholders and increase liquidity. The company secured 19 new registrations in multiple regions, expected to boost annual revenue by Rs. 100 million. Strong Q1FY25 financial performance reported.

Mumbai (Maharashtra) [India], August 29: The board of directors of Mumbai-based Vaishali Pharma Ltd (NSE – VAISHALI) has approved the issuance of bonus equity shares at a 1:1 ratio, subject to regulatory and shareholder approvals. The move also includes a stock split, converting one Rs. 10 face value share into five shares of Rs. 2 face value each, to reward shareholders and enhance liquidity.

The board is considering additional fundraising through various methods including rights issues and private placements. Recently, the company secured 19 new registrations across Southern Africa, West Africa, the Gulf region, Latin America, and ASEAN, expected to contribute Rs. 100 million to annual revenue.

For Q1FY25, Vaishali Pharma reported a 34.70% rise in sales to Rs 18.08 crore and a 7.13% increase in net profit to Rs 1.70 crore. Chairman Atul Vasani emphasized the company's commitment to growth, innovation, and shareholder rewards, highlighting their new brand 'HealthE' for the local online market.

(With inputs from agencies.)