1:4 Bonus Shares: Record Date - Saturday, May 25; Buy The Stock To Confirm Your Eligibility?

Established in 1981, G.M.Breweries Limited (GMBL) is a company that produces and distributes alcoholic beverages, including Indian-made foreign liquor (IMFL) and country liquor (CL). With a substantial market share, GMBL is the largest manufacturer of country spirits in the state of Maharashtra. In September 1993, GMBL launched its initial public offering (IPO). The Company's shares are currently listed on the National Stock Exchange of India and the Bombay Stock Exchange.

GM Breweries Bonus Shares Record Date

"Notice is hereby given that pursuant to section 91 of the Companies Act, 2013 and regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has fixed Saturday, May 25,2024 as the Record Date for the purpose of ascertaining the eligibility of the shareholders for the purpose of Bonus Issue," said the company in a regulatory filing.

The Board of Directors of the company their meeting held on April 04, 2024 had proposed / recommended issue of bonus shares in proportion of 1:4 i.e. one new fully paid bonus equity share of Rs.10/- each for every 4 existing fully paid equity shares of Rs.10/- each held as on record date. The bonus issue of equity shares will be subject to approval by members of the company, as per a stock exchange filing.

GM Breweries Bonus Shares Update

"Kindly take a note that in accordance with regulation 29 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, a meeting of the Board of Directors of the Company is scheduled to be held at the registered office of the Company at Ganesh Niwas, S. Veer Savarkar Marg, Prabhadevi, Mumbai - 400025 on Monday, May 27,2024, at 06.30 P.M. to consider allotment of bonus shares and related matters," informed GM Breweries to stock exchanges on 13th May.

GM Breweries Upcoming Dividend

"Members may note that the Board of Directors, in its meeting held on April 04, 2024 have recommended a final dividend @ 70%(Rs. 7 per Share). The final dividend, if approved by members in the ensuing AGM will be paid on or from May 22, 2024, electronically through various online transfer modes to the members who have updated their bank account details. For members who have not updated their bank account details, dividend warrants / dividend drafts/cheques will be sent out to their registered addresses once the postal services is available," said GM Breweries in its Annual Report 2023-2024.

GM Breweries Financials

The company experienced revenue from operations of Rs. 159.85 crore for the quarter ended March 20,24, a spike of 2.49% over the Rs. 155.97 crore recorded for the same period in 2023. Its net profit jumped by 146.84% from Rs. 35.10 crore in Q4FY23 to Rs. 86.64 crore in Q4FY24. EBITDA surged by 107.59% to Rs. 96.30 crore in the quarter under review from Rs. 46.39 crore in the corresponding quarter of FY23.

GM Breweries Share Price Target

"GM Breweries stock price is bullish but also overbought with next resistance at 825 on the Daily charts. Investors should book profits at current levels as Daily close below the support of 730 could lead to a target of 585 in the near term," said AR Ramachandran from Tips2trades.