Venus Remedies , a pharmaceutical company, has announced the opening of a special window for re-lodgement of transfer requests for physical shares. This initiative comes in response to a recent SEBI circular dated July 02, 2023, aimed at facilitating the transfer process for shareholders still holding physical share certificates.

Announcement Details

The company made this announcement through its official social media platforms, including Instagram, Facebook, LinkedIn, and X (formerly Twitter). Venus Remedies has provided links to the notice for shareholders on these platforms, ensuring wide dissemination of this important information.

Regulatory Compliance

In a filing to the stock exchanges, Venus Remedies stated that this announcement is in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's action aligns with SEBI Circular No. SEBI/HO/MIRSD/MIRSD-POD/P/CIR/2023/87 dated July 02, 2023.

Importance for Shareholders

This special window is particularly significant for shareholders who still possess physical share certificates of Venus Remedies. It provides an opportunity for these shareholders to re-lodge their transfer requests, potentially simplifying the process of converting physical shares to electronic form or transferring ownership.

How to Access Information

Shareholders and interested parties can find detailed information about this special window for physical share transfer re-lodgement on Venus Remedies' official social media handles. The company has shared specific links for each platform in their communication to the stock exchanges.

Company Details

Venus Remedies is listed on both the National Stock Exchange of India Ltd. (NSE) and BSE Limited.

This move by Venus Remedies demonstrates the company's commitment to shareholder service and compliance with regulatory requirements. Shareholders holding physical shares are encouraged to take advantage of this special window to address any pending share transfer issues.

Venus Remedies Limited , a prominent player in the pharmaceutical sector, has reported a remarkable financial performance for the first quarter. The company's consolidated results showcase significant growth in both revenue and profitability.

Impressive Financial Highlights

Venus Remedies witnessed an extraordinary surge in its consolidated net profit, which soared to ₹9.60 crore in Q1, compared to ₹1.22 crore in the corresponding quarter of the previous year. This represents a staggering growth of nearly 687% year-over-year.

The company's revenue from operations also showed robust growth, increasing to ₹131.90 crore from ₹108.61 crore in the same period last year, marking a 21.4% rise.

Key Financial Metrics

Operational Performance

The company's operational efficiency is evident from its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) figures. EBITDA for Q1 stood at ₹18.80 crore, a significant increase from ₹12.85 crore in the previous year's Q1, reflecting a growth of 46.3%.

Segment Information

Venus Remedies operates in a single reportable segment, namely "Pharmaceuticals," as per the company's financial statement notes.

Subsidiary Performance

The company's wholly-owned subsidiary, Venus Pharma GmbH, faced some financial challenges with its net worth eroded by ₹2.95 crore. However, the management expects the subsidiary's financial position to improve and stabilize, based on future projections and proposed financial support.

Conclusion

Venus Remedies' Q1 results demonstrate a strong start, with significant improvements across key financial parameters. The substantial growth in net profit and revenue indicates the company's resilience and effective business strategies in the competitive pharmaceutical market.

Investors and stakeholders will likely keep a close watch on the company's performance in the coming quarters, particularly regarding the turnaround of its German subsidiary and the overall growth trajectory in the pharmaceutical segment.