Morepen Laboratories Limited
Morepen Laboratories Ltd is engaged in the business of manufacturing, producing, developing and marketing a wide range of Active Pharmaceutical Ingredients (APIs), branded and generic formulations and also the Home Health products.
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Morepen Laboratories' Board has proposed a final dividend of ₹ 0.20 per equity share for the financial year, subject to shareholder approval at the upcoming AGM. The dividend record date is September 19.
Morepen Laboratories secured a ₹30 Cr unsecured term loan from Shinhan Bank for general business purposes. The loan features a 7.60% interest rate and 36-month tenure, personally guaranteed by Promoter Sushil Suri. This facility supports operational needs.
Morepen Laboratories fully repaid its Rs. 99 Cr secured credit facility from Kotak Mahindra Bank, which included a Rs. 79 Cr working capital loan and Rs. 20 Cr cash credit. This move frees up charged assets, enhancing the company's financial flexibility.
Morepen Labs secured a Rs 30 Cr unsecured working capital loan from KEB Hana Bank. This 3-year facility, personally guaranteed by Promoter Sushil Suri, significantly boosts liquidity for ongoing operations and future growth.
Morepen Labs secured a 50 Cr unsecured term loan from Woori Bank for general corporate use. The 3-year loan, guaranteed by Mr. Sushil Suri, carries a 7.40% effective interest rate with a 1-year moratorium.