Plethico Pharmaceuticals Ltd has considered and recommended a dividend of 25 per cent per share of face value of Rs 10 each for the year ended on September 30, 2006.
The company's focus on herbals and nutraceuticals and the rising awareness of herbals internationally has resulted in an impressive performance during the first nine months ended June 2006.
Its net sales increased to Rs 222.42 crore from Rs 163.01 crore in the similar period of last year. The net profit touched to Rs 59.39 crore as against Rs 40.66 crore. Growth in exports, especially in the CIS region and the third front i.e. Latin American Countries, South East Asia and GCC has been significant contributing substantially to these figures.
The company issued 36.68 lakh equity shares at Rs 300 each aggregating to Rs 110 crore. The public issue received good response from investors and was oversubscribed by 25.63 times. Its formulation business operates in over 45 countries including India. The company is setting up a WHO GMP plant in Jammu & Kashmir by investing Rs 31 crore and upgrading its Kalaria plant with investment of Rs 25.72 crore. It is investing Rs 13.16 crore in R&D centre.