Ashish Kacholia Portfolio Stock Sets Record Date For 1:1 Bonus Shares: Do You Own?

Safari Industries (India) is a mid-cap company in the consumer discretionary sector. Safari deals in the business of manufacturing and trading luggage and luggage accessories. Safari Industries (India) is one of the multibagger stocks that Dalal Street has witnessed in recent times as the scrip has gained 160% YTD. But what is more interesting news for the market watchers is that the company has declared bonus shares in a 1:1 ratio and for the purpose of the same record date has been finalized.

"This is to inform that pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Tuesday, 12th December 2023 as the record date for determining entitlement of Members for issue and allotment of Bonus Equity Shares in the proportion of 1:1 i.e. 1 (One) new fully paid-up equity share of Rs. 2/- (Rupees Two) each for every 1 (One) existing fully paid-up equity share of Rs. 2/- (Rupees Two) each," said Safari Industries in a stock exchange filing.

"Pursuant to SEBI (Issue of Capital and Disclosure Requirements)(Second Amendment) Regulations, 2023 effective from 23rd May 2023, the allotment of shares in bonus issue shall be made only in dematerialized form and thus, all the eligible Members of the Company holding Equity Shares in physical mode are hereby advised to dematerialize their physical share certificates by contacting their respective Depository Participant (DP) on or before the Record Date for receipt of Bonus Equity Shares in their respective beneficiary accounts. In case, shares of the Company are held in physical form as on the Record Date, the Bonus Equity Shares so entitled, shall be transferred to the Suspense Escrow Account opened by the Company in this regard," the company stated in a note for physical shareholders.

For the September quarter of FY24, Safari Industries Ltd. recorded a consolidated net profit of Rs 39.8 crore, up 53.7 per cent from Rs 26 crore in the same period the previous year. The company said in a regulatory filing that its total revenue for Q2FY24 was Rs 370.02 crore, up 18% from Rs 314 crore in Q2FY23. Earnings before interest, tax, depreciation, and amortisation (EBITDA) increased by 51.3 per cent to Rs 63.4 crore for the quarter ended 30th September 2023 from Rs 41.9 crore in the same quarter of the previous fiscal.

For the fiscal year 2023-2024, the Board of Directors has approved and issued an interim dividend of Rs. 2.50 (125%) for each equity share of Rs. 2/-. The above Interim Dividend is scheduled to be paid by November 30, 2023, at the latest.

On Thursday, the shares of Safari Industries (India) opened on the BSE at Rs 4448 apiece. As per the shareholding pattern of the company for the July to September quarter, ace investor Ashish Kacholia held fully paid-up equity shares of 5 lakhs or 2.10% stake in Safari Ind.