7:1 Bonus Shares, 1:10 Stock Split, 815% Gain From 1 Yr Low: Record Date Fixed By NBFC Stock

As of Friday's closing session, Sunshine Capital Ltd., a small-cap NBFC company, encountered a market valuation of Rs 322.27 Cr. Yesterday, the shares traded at a record high of Rs 247.50 per share, with a 2% upper circuit limit. The share closed at Rs. 27.05 on February 23, 2023, a 52-week low. This indicates that the stock has gone up by 815% from its one-year low. Sunshine Capital, a multibagger stock that has risen 771% in a year, 152% YTD, and 577% in six months, has a fixed record date for a 1:10 stock split and 7:1 bonus shares.

Sunshine Capital Bonus Shares & Stock Split

"In compliance with regulation 42 of SEBI (Listing Obligation and Disclosure requirement) Regulations 2015 and pursuant to Section 91 of the Companies Act, 2013, Members of the Company hereby informed that the Company has fixed Record date for Sub-division in face value of Equity Share of Rs. 10/- to Rs. 1/- each and bonus issue of Equity Shares in the ratio of 7:1 i.e 7 (Seven) Equity shares for every 1 (One) Equity shares held by Shareholder," said Sunshine Capital in a stock exchange filing on Friday.

11th March, 2024 has been fixed as the record date for the purpose of the above said corporate actions according to the company.

The Board of Directors in their meeting held on 12th January, 2024 considered and approved "Issuance of Bonus Issue of Equity Shares in the proportion of 7 (seven) Equity Share of Re. 1/- each for every 1 (One) Equity Share of Re. 1/- each held by the Shareholders of the Company as on the record date, subject to the approval of shareholders i.e. in compliance with the applicable laws. Approval for stock split (sub-division of equity shares) of Company's 1 (One) equity share of face value of Rs.10/- each into 10 (Ten) equity shares of face value of Re. 1/-each, subject to the approval of shareholders and other approvals as may be required." said Sunshine Capital in a regulatory filing.

Sunshine Capital Results

In the December 2023 quarter, the firm had net sales of Rs. 70.36 crore, enhancing 4103.66% from Rs. 1.67 crore in the same quarter of 2022. In Q3FY24, the net profit for the period was Rs. 0.36 crore, a 67.05% drop from Rs. 1.10 crore in Q3FY23. EBITDA dropped 67.57% from Rs. 1.11 crore in the same quarter last year to Rs. 0.36 crore in the quarter under review.