Ind Swift Laboratories , a prominent pharmaceutical company, has reported a significant change in its shareholding pattern following a recent amalgamation scheme. The company's promoter and promoter group members have acquired a substantial number of equity shares, strengthening their position in the organization.

Key Highlights of the Acquisition

• Total shares acquired: 39,46,094 equity shares
• Acquisition method: Scheme of arrangement for amalgamation
• Approval authority: National Company Law Tribunal, Chandigarh Bench

Breakdown of Acquisitions

The acquisition involved six entities from the promoter and promoter group:

Impact on Shareholding

The acquisition has led to a notable increase in the promoter group's stake in Ind-Swift Laboratories Limited. Here's how the shareholding of key members changed:

• Essix Biosciences Limited: Increased from 34.33% to 34.04% of the total share capital
• S.R. Mehta: Increased from 0.32% to 0.66%
• Gopal Munjal: Increased from 0.08% to 0.43%
• V.R. Mehta: Increased from 0.07% to 0.42%
• Sunita Jain: Increased from 0.06% to 0.39%
• Neera Mehta: Increased from 0.34% to 0.59%

Regulatory Compliance

In compliance with regulatory requirements, Ind-Swift Laboratories Limited has made the necessary disclosures under:

1. Regulation 7(2)(b) of SEBI (Prohibition of Insider Trading) Regulations, 2015
2. Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011

Changes in Share Capital

Following the amalgamation and share allotment:

• The equity share capital of Ind-Swift Laboratories Limited increased from INR 73.49 crore to INR 81.61 crore.
• The total number of equity shares rose from 7,34,86,860 to 8,16,11,558.

Conclusion

This strategic move through the amalgamation scheme has significantly bolstered the promoter group's stake in Ind-Swift Laboratories Limited. The acquisition, valued at over INR 10 lakh, reflects the promoters' confidence in the company's future prospects and their commitment to its growth.

Ind Swift Laboratories Limited has released its financial results for the first quarter, showcasing a mixed performance with notable improvements in some areas and challenges in others.

EBITDA Turnaround

The company reported a significant turnaround in its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). Ind-Swift Lab achieved an EBITDA of ₹36.00 million in the quarter, compared to a loss of ₹65.00 million in the same period last year. This improvement resulted in an EBITDA margin of 2.36%, marking a positive shift in the company's operational efficiency.

Revenue Growth

Ind-Swift Lab's revenue showed a modest increase, rising to ₹1.53 billion from ₹1.47 billion in the corresponding quarter of the previous year. This 4.08% year-over-year growth indicates a slight expansion in the company's top line.

Profit Decline

Despite the improvements in EBITDA and revenue, the company faced a setback in its consolidated net profit. Ind-Swift Lab reported a net profit of ₹88.00 million for the quarter, down from ₹292.00 million in the same quarter of the previous year. This represents a substantial decline of approximately 69.86% in net profit.

Financial Results Overview

To provide a clearer picture of Ind-Swift Lab's Q1 performance, here's a summary of the key financial metrics:

Management Commentary

The company's board of directors approved these unaudited financial results in a meeting held on August 13. The meeting, which began at 4:30 PM and concluded at 5:45 PM, also saw the approval of both standalone and consolidated unaudited financial results for the quarter ended June 30.

Conclusion

Ind-Swift Laboratories Limited's Q1 results present a complex picture. The company has shown resilience by turning around its EBITDA and achieving revenue growth. However, the significant decline in net profit suggests that the company may be facing challenges in managing costs or other factors affecting its bottom line. Investors and analysts will likely be watching closely to see how Ind-Swift Lab addresses these challenges and capitalizes on its operational improvements in the coming quarters.