This smallcap pharma company hit record high in a falling market

Management also notified that they have incorporated their wholly-owned subsidiary in the name of ‘Rx Themis Private Limited.’

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Shares of Themis Medicare jumped 5 percent to hit a fresh lifetime high of Rs 1,794 per share in Thursday’s intra-day trade after the pharmaceutical company fixed October 10, 2023, as a record date for the purpose of stock split or subdivision of equity shares. In comparison, the S&P BSE Sensex was down 493 points or 0.7 percent to 66,307 levels, as of 10:30 am.

So far this year, the stock of this smallcap pharma company has surged 33 percent, as against a 10 percent gain in the S&P BSE Sensex. The total market capitalisation or m-cap of the company stood at Rs 1,628 crore.

“A record date of October 10 was fixed to determine eligibility of shareholders for sub-division or split of every one fully paid-up equity share having face value of Rs 10 each into 10 fully paid-up equity shares having face value of Re 1 each, as approved by the shareholders in the 53rd Annual General Meeting,” the company said in an exchange filing on September 20.

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That apart, the management also notified that they have incorporated their wholly-owned subsidiary in the name of ‘Rx Themis Private Limited.’

Themis Medicare is a research-based pharmaceutical company specialising in the manufacture of a wide range of products for application areas like pain management, critical care, and anti-infectives.

With a portfolio of over 30 products, the company is present in 17 states catering to 40,000 chemists and 2,000 distributors.

Earlier, credit ratings agency CARE Ratings had reduced long-term bank facilities of Themis Medicare to Rs 62.64 crore from Rs 63.25 crore, but assigned a ‘stable’ review.

In the April-June quarter of 2023-24 (Q1FY24), the company’s revenue from operations rose 2.3 percent to Rs 96 crore from Rs 94 crore, in the year-ago period. Profit after tax (PAT), too, gained 2 percent to Rs 18 crore in Q1FY24.

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