Morepen Laboratories Limited has informed the Exchange about General Updates - Formation of set down subsidiary in Dubai, UAE.
MOREPENLAB · price
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Morepen Laboratories' board approved the incorporation of a Wholly Owned Subsidiary in Dubai, UAE through its subsidiary Morepen Medipath Limited, making it a step-down subsidiary aimed at expanding B2C and B2B medical device business internationally. The board also signed an addendum to the Business Transfer Agreement (dated March 18, 2025) with Morepen Medipath, shifting the 'appointed date' for hiving off the medical devices business from February 1, 2025 to April 1, 2025. For FY25, consolidated revenue rose to Rs. 1,82,994 lakhs (vs Rs. 1,70,440 lakhs) and net profit grew to Rs. 11,802 lakhs (vs Rs. 9,616 lakhs), with EPS of Rs. 2.20. Standalone net profit dipped to Rs. 10,158 lakhs (vs Rs. 11,094 lakhs) with EPS of Rs. 1.90. A final dividend of Rs. 0.20 per share (on Rs. 2 face value) was recommended, subject to shareholder approval. The filing also notes Quick Med Private Limited (80% held by Dr. Morepen Ltd., a subsidiary) became a step-down subsidiary during Q4 FY25, giving Morepen an effective 64% holding.
The Dubai subsidiary marks a clear push into the Middle East medical device market, while the medical devices hive-off continues the group's restructuring. Strong consolidated profit growth (~23% YoY) and a modest dividend are positives, though standalone profits slipped year-on-year.