10:1 Stock Split Ratio: December 17 Record Date; Buy The Small-Cap Stock?

Shish Industries is one of the world's top B2B producers, suppliers, and exporters of consumer products, building supplies, and packaging. Since its founding in 2012, Shish Industries Ltd. has grown to become a reputable producer and supplier of tarpaulin, PP/PE woven fabric, FIBC bags, PP corrugated sheets, and shipping packaging materials. The Surat area of Gujarat is home to the company's corporate and registered offices as well as a number of factories.

Shish Industries Stock Split Record Date

To determine the eligibility of members for the purpose of sub division/split of every 1 equity share having face value of Rs. 10/- each fully paid up, be sub-divided/split into 10 equity shares having face value of Re. 1/- each fully paid-up, the Board of Directors of the company have fixed Tuesday, December 17, 2024 as the record date.

"Subject to the statutory approvals including approval of Shareholders of the Company, the Board of Directors have approved the sub-division/ split of equity shares of the Company, such that 1 (One) Equity Share of Rs. 10 (Rupees Ten Only) each fully paid up, be sub-divided/split into 10 (Ten) Equity Shares having face value of Re. 1 (Rupee One Only) each fully paid up," said Shish Industries in a stock exchange filing.

The rationale behind the 10:1 stock split is to enhance the liquidity of the company's equity shares and to encourage the participation of small investors by making equity shares of the company more affordable to invest, Shish Industries informed stock exchanges.

Shish Industries Financials

The company's revenue from operations for the September 2024 quarter was Rs 22.64 crore, increasing 10.64% from the September 2023 quarter's Rs 20.46 crore. In Q2FY25, its net profit was Rs. 1.84 crore, rising 1.39% from Q2FY24's Rs. 1.82 crore. EBITDA increased 45.7% from Rs. 2.91 crore in the September 2023 quarter to Rs. 4.24 crore in the September 2024 quarter.

Shish Industries Share Price Target

"Shish Industries stock price is bearish on the Daily charts with strong resistance at 129.7. A Daily close below support of 122 could lead to a target of 105 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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