1:5 Stock Split & Rs 1 Dividend Declared: Reports Highest Ever Revenue & Profit In FY24; Buy The Stock?

Share India Securities Ltd has declared the highest-ever revenue and profit in FY24 since inception along with the Board of Directors has recommended a final dividend of Rs 1 per share along with a 1:5 stock split. The company is a pioneer in offering clients in India as well as abroad algo trading solutions. The company's average daily turnover, which includes cash market, equity derivative, currency, and commodities segments, is now Rs. 11,000cr.

Share India Securities Stock Split & Dividend

The Board of Directors "a) Recommended final dividend of Re. 1.00/- (Rupees One each) per equity share having face value of Rs. 10/- each, for the financial year ended March 31, 2024. In this respect, the record date shall be decided by the Board separately which shall be intimated to Exchange in due course. b) Approved stock-split/sub-division of each equity share of the Company, having face value of Rs. 10/- each, into 5 (Five) equity shares of face value of Rs. 2/- each, subject to the approval of shareholders of the Company and other statutory/regulatory authorities, as may be required. In this respect, the record date shall be decided by the Board separately which shall be intimated to Exchange in due course," said Share India Securities in a regulatory filing on 9th May.

Share India Securities Financials

The company's revenue from operations stood at Rs 465 Cr in the quarter ended 31st March 2024 compared to Rs 341 Cr in the same quarter of FY23, representing a growth of 36.6%. Its EBITDA stood at Rs 175 Cr in Q4FY24 up by 11.4% YoY from Rs 157 Cr in Q4FY23 while its EBITDA margin reached 37.5% in the quarter under review which was 45.7% in the year-ago quarter. Share India Securities said its quarterly net profit reached Rs 116 Cr in the quarter under review up by 8.3% YoY from Rs 107 Cr in Q4FY23.

Mr. Sachin Gupta - CEO & Whole-time Director of Share India Securities Limited said, "I am delighted to announce the exceptional performance of our company in the (FY24), marking a significant milestone in our journey of growth and innovation. In FY24, we have achieved our highest-ever Revenue and Profit After Tax (PAT) since our inception. Our revenues surged by an impressive 36% year-on-year, reaching Rs. 1,483 Crores, while our PAT soared by 29% to Rs. 426 Crores. These remarkable achievements underscore our unwavering commitment to excellence and the resilience of our business model amidst evolving market dynamics."

"Our commitment to expanding our client base has yielded significant results, with our Broking clients showing a robust growth of 27% year-on-year, reaching a total of 35,380 clients in FY24. In recognition of our strong performance and commitment to shareholder value, the Board has declared a dividend of Rs. 1 per share, bringing the total dividend for the fiscal year to Rs. 9 per share. Additionally, the Board has also approved a stock split in the ratio of 1:5," he stated.

"Looking ahead, we remain committed to pursuing excellence, fostering innovation, and delivering sustainable value for all our stakeholders. With a solid foundation and a clear strategic direction, we are well-positioned to capitalize on future opportunities and drive long-term growth and success," Sachin Gupta further added.

Share India Securities Share Price Target

"Share India Securities is bearish on the Daily charts with strong resistance at 1744. A Daily close below support of 1594 could lead to a target of 1462 in the near term," AR Ramachandran from Tips2trades analysed.

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