50 per cent from its 52-week low; Board announces bonus issue of shares for first time ever!
The stock is up over 50 per cent from its 52-week low.
Maruti Interior Products Ltd informed that the Board of Directors of the company has approved bonus shares in the ratio of 1:1 i.e., 1 (One) bonus fully paid-up equity share of Rs 10 each for every 1 (One) existing fully paid-up equity shares of Rs 10 each held by equity shareholders as of record date. The company fixed the record date as Friday, October 27, 2023. The company got in-principle approval for the issue and proposal of not exceeding 75,50,000 bonus equity shares of Rs 10 each.
The paid-up equity share capital after the bonus issue will be Rs 15,10,00,000 or Rs 15.10 crore divided into 1.51 crore equity shares of Rs 10 each.
The company previously paid an interim dividend of Rs 0.50/share, with a face value of Rs 10 each, to shareholders who held shares on the record date of June 9, 2023.
Incorporated in 1997, Maruti Interior Products Ltd manufactures modular kitchen & wardrobe storage accessories. The company has a market cap of Rs 150 crore. The shares of the company have a PE of 34x, an ROE of 18.3 per cent and a ROCE of 23.9 per cent.
In H2FY23, the net sales increased by 8 per cent to Rs 17.76 crore and net profit increased by 15 per cent to Rs 1.75 crore compared to H2FY22. In FY23, the net sales increased by 39 per cent to Rs 38.89 crore and net profit increased by 45 per cent to Rs 4.32 crore compared to FY22.
On Thursday, shares of Maruti Interior Products Ltd gained 1.76 per cent to Rs 202 per share with an intraday high of Rs 202 and an intraday low of Rs 185.10.
The stock is up over 50 per cent from its 52-week low of Rs 131.30 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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