Penny stock: MURAE Organisor, a pharmaceutical company specialising in the marketing, trading, and distribution of a diverse range of pharmaceutical formulation products, announced on Friday, February 7, through an exchange filing that its Board of Directors will meet on February 13, 2024, to discuss a potential stock split and bonus issue.
If approved, this would mark the company’s second bonus issue, following the previous announcement in 2021, in a 1:1 ratio. It would also be the company’s second stock split, having previously reduced the face value of its shares from ₹10 to ₹2 in 2021. The stock has been trading on an ex-split basis since December 2021.
Currently, the company’s shares are trading at ₹1.77 apiece, reflecting a 43% increase over the past four months (including the current month).
Strong show in Q3
Looking at the company’s December quarter performance (Q3FY25), it reported a 384.3% quarter-on-quarter (QoQ) increase in revenue, with total revenue from operations rising to ₹281.04 crore in Q3 FY25, compared to ₹58 crore in the previous quarter.
This substantial revenue growth indicates strong market demand, successful execution of new orders, and an expanding distribution network. The company’s profitability has also surged significantly, with net profit rising 344.3% to ₹4.01 crore, compared to ₹0.90 crore in Q2 FY24.
Profit before tax (PBT) jumped to ₹5.26 crore, marking a 368.5% increase from ₹1.12 crore in the previous quarter. Earnings per share (EPS) also recorded a fivefold increase, climbing from Re 0.01 to Re 0.06, as per the company’s Q3 earnings filing.
In its latest annual report, the company stated that all its business segments are well-positioned for growth, projecting high single-digit to low double-digit consolidated topline growth for FY24.
The ramp-up of its global specialty business is expected to continue, supported by advanced manufacturing technology for Pharmaceutical, Nutraceutical, Ayurvedic, and Herbal Products.
Additionally, the company stated that its manufacturing and institutional sales strategy has helped stabilise its revenue stream, enabling it to target new domestic and export markets. Furthermore, it plans to leverage its extensive distribution network to drive both online and offline sales growth.
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