Board to consider 2:1 bonus share, 10:1 stock split & 100% dividend next week: Company entry into the agricultural waste management and processing business
The stock is up by 23.16 per cent from its 52-week low of Rs 23.32 per share.
Pradhin Ltd is embarking on a significant expansion into the Agricultural Waste Management and Processing sector. This strategic move reflects the company's dedication to sustainable development and environmental responsibility while diversifying into a high-growth, impactful area. The company plans to engage in various activities, including biogas production from agricultural waste, the development of high-quality compost, the production of biofertilizers, waste-to-energy initiatives and the implementation of circular economy practices.
This venture holds immense strategic importance and significant growth potential. The global demand for sustainable waste management solutions is steadily increasing, and this initiative aligns perfectly with government efforts to reduce waste, promote clean energy, and encourage sustainable agricultural practices. By entering this domain, Pradhin Ltd. aims to not only strengthen its revenue streams but also contribute meaningfully to environmental preservation, rural development and the advancement of the circular economy.
Pradhin Ltd has issued a notice indicating that its Board of Directors will convene on January 17, 2025, to deliberate on several significant matters. These include a potential 10:1 stock split of existing equity shares, requiring shareholder approval via postal ballot. The company will subsequently amend its Memorandum of Association to reflect this change. The Board may also propose an interim dividend of up to 100 per cent for the current fiscal year, with the record date to be determined later. Furthermore, Pradhin Ltd is considering a 2:1 bonus share issue to eligible shareholders. This issuance would be facilitated by capitalizing existing securities premium and would necessitate shareholder approval.
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Pradhin Ltd, formerly known as Bhagwandas Metals Ltd., is a dairy products company incorporated in 1982. Previously involved in the steel industry, the company underwent a significant transformation in 2018. An open offer resulted in a change in management, leading to new directors and the resignation of the executive chairman. Subsequently, the company rebranded as Pradhin Ltd. and shifted its focus to producing, marketing, and trading in dairy products, including Pure Ghee, Skimmed Milk Powder, White Butter, Yellow Butter, and Dairy Whitener.
The company has a market capitalization of Rs 66 crore. On Friday, shares of Pradhin Ltd were locked in a 2 per cent lower circuit to Rs 28.72 per share from its previous closing of Rs 29.30 per share. The stock is up by 23.16 per cent from its 52-week low of Rs 23.32 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice