56 Per Cent From 52-Week Low: Board Announces 1:1 Bonus Share; Check Record Date Inside
The stock is up by 56 per cent from its 52-week low of Rs 439 per share.
Sal Automotive Ltd. announced two key corporate actions: first, an increase in the company's Authorized Share Capital, necessitating an amendment to the Memorandum of Association, and second, the issuance of bonus Shares to existing shareholders at a ratio of 1:1, effectively doubling their shareholding. The Board fixed the record date as Thursday, April 01, 2025.
Established in 1974, SAL Automotive Ltd. operates within the automotive and agricultural sectors, specializing in the production of crucial components. Their business encompasses manufacturing automotive parts like seats, seat mechanisms, and frames for both passenger and commercial vehicles, alongside agricultural implements such as rotavators, planters, and tractor trollies, catering to the needs of vehicle and tractor manufacturers. The company has a market cap of Rs 155 crore and debtor days have improved from 57.5 to 43.6 days.
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The shares of the company have a PE of 25x, an ROE of 14 per cent and an ROCE of 14 per cent. The promoters own a 75 per cent stake; DIIs own a 4.44 per cent stake and the public owns a 20.56 per cent stake in the company as of December 2024. The stock is up by 56 per cent from its 52-week low of Rs 439 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.