1:1 Bonus Share, Rs 2/Share Dividend: Multibagger Hotel Stock Sets Record Date For Bonus Issue

Small cap company from the Hotels & Resort sector, Advani Hotels & Resorts (India) Ltd shares gained 0.93% on March 8 to end the day at Rs 157.95 apiece on BSE. Advani Hotels shares zoomed 51.37% year-to-date and declined 5.28% in last 1-week. The debt-free company on January 9 recommended Rs 2/share interim dividend and 1:1 bonus issue. The shares traded ex-dividend on February 9, 2024. Now Advani Hotels has fixed record date for 1:1 bonus issue and it is March 20, 2024. Check details below:

Advani Hotels Sets Record Date For 1:1 Bonus Issue: As per the regulatory filing of Advani Hotels dated March 9, 2024, "the Company has fixed Wednesday, March 20, 2024 as 'Record Date' for the purpose of determining the eligibility of Shareholders for the entitlement of issue of Bonus Equity Shares in the ratio of 1:1 i.e. 1 (One) new fully paid-up Equity Shares of Rs 2/- (Rupees Two only) each for every 1 (One) existing fully paid-up Equity Share of Rs 2/- (Rupees Two only) each held by them on the Record Date."

Advani Hotels Dividend In 2024: It declared the first Interim Dividend @ 100% i.e. Rs. 2/- (Rupees Two only) per Equity Share of face value of Rs. 2/- each for the Financial Year 2023-2024.

Advani Hotels Q3 Results: The company stated that it recorded a milestone of the highest ever revenue of INR 3,304 lakhs in Q3FY24, the highest revenue in any quarter in it's operating history, registering a growth of 11% (YoY). The Q3FY24 Profit Before Tax (PBT) declared at INR 1,270 lakhs, registering a growth of 8% (YoY).

The Company is debt-free and the Liquid Fund Reserves (including Fixed Deposits) are at INR 4,812 lakhs as on December 31, 2023, after deducting a 70% Interim Dividend pay-out of INR 647 lakhs in June 2023 and after deducting cash-outflows towards capital expenditures during the ninemonth period of the current financial year, added the BSE filing of the company.

The EBITDA increased by Rs 106 lakhs compared to the same period last year, but the EBITDA margins declined by 1%. This is due to strategic investments in our workforce, including hiring new talent and rewarding our existing talent pool with increments to encourage and retain our valuable employees. The Company's Profit After Tax (PAT) stands at INR 931 lakhs registering a growth of 6%.

Advani Hotels Shares Performance & Return: The 52-week high price of Advani Hotels shares on BSE is Rs 174.90 apiece and 52-week low price is Rs 66.75 apiece, respectively. The company has a market capitalisation of Rs 730.03 crore. Advani Hotels shares soared 73% in last 6-months, gained 85% in last 2-years, and offered return of 174% in last 3-years. The stock rallied 140% in last 5-years. Advani Hotels stock surged 364% in last 10-years.

Advani Hotels About: Advani Hotels & Resorts (India) Limited (ADVANIHOTR) is a publicly-traded, Company incorporated in 1987, headquartered in Mumbai and is listed on the Bombay Stock Exchange and National Stock Exchange of India. It owns and operates the 'Caravela Beach Resort Goa'; an independent, 201-key, 5-Star Deluxe golf resort on the Arabian Sea, designed by the world-famous architects WATG (who designed both the 'Atlantis' resorts).

Disclaimer:

The stock highlights the bonus share and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.