IOL Chemicals Shares Rose Over 3%: Board To Consider Stock Split

On December 18, 2024, IOL Chemicals & Pharmaceuticals made an announcement via an exchange filing, stating that the Board of Directors will meet on December 27, 2024, to evaluate and approve a stock split of its share capital. Specifically, the discussion will focus on the sub-division or split of the company’s current equity shares, which have a face value of ₹10 each and are fully paid up. This decision will depend on what the Board determines during the meeting.

IOL Chemical Stock Split Details

As per the exchange filing, IOL Chemical has not shared any details with respect to the stock split. The company will convene its board meeting on December 27, 2024. A stock split is often implemented to make shares more affordable for retail investors. It also serves to enhance liquidity in the market by increasing the number of shares available for trading.

IOL Chemicals Financial Performance

During Q2 FY25, IOL Chemicals reported consolidated net sales of ₹525.75 crore. This reflects a 3.59% decrease compared to ₹545.30 crore in the same quarter of the previous year. Additionally, the company’s quarterly net profit decreased by 49.43%, dropping from ₹37.87 crore in September 2023 to ₹19.15 crore in September 2024. EBITDA for the September 2024 quarter stood at ₹48.00 crore, down 32.69% from ₹71.31 crore in the same quarter of 2023.

IOL Chemicals and Pharmaceuticals maintains a diverse portfolio, with a strong presence in various therapeutic areas. These include pain management, anti-diabetes, antihypertensive, and anticonvulsants.

On December 19, 2024, IOL Chemicals & Pharmaceuticals shares opened at ₹400.65 and touched the day high of ₹426.50 at 09:30 AM.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.