Residential commercial projects maker, Grovy India is likely to announce bonus shares reward later in the current week. The company's board of directors are scheduled to meet on August 30. Ahead of the bonus announcement, the stock is floating near its 52-week high of Rs 180. YTD, the stock zoomed above 55% on BSE.
Grovy India Share Price:
After market hours of August 26, the penny stock ended at Rs 168.95 apiece, up by 2.6% on BSE with a market cap of Rs 56.33 crore. The stock is near its 52-week high of Rs 180 apiece, while the stock has doubled from its 52-week low of Rs 79 apiece.
The stock's PE ratio is very high at 56.22x, while its return on equity is low at 5.31%. However, the price-to-book ratio is stable at 2.99x as of August 26, 2024, as per BSE data.
Grovy India Bonus Issue:
As per the regulatory filing, a meeting of the Board of Directors of the Company Grovy India Limited will be held on Friday, 30th August, 2024, to approve:
- To consider and approve the Director's Report of the Company for the financial year 2023-24.
- To consider and approve notice of the 39th Annual General Meeting (AGM).
- To consider the resignation of the Statutory Auditor.
- To consider the proposal for the issue of Bonus shares to the equity shareholders of the company.
- To transact any other business with the permission of the chair.
Bonus shares are one of the many corporate actions that listed companies announce on several occasions. Bonus shares are like incentives which are free of cost given to investors. Under this corporate action, new shares are issued at the existing Face Value of equity shares of the company. Hence, the face value remains the same post-bonus issue.
Some of the very popular bonus shares ratios are -- 4:1, 1:2, 3:5, 1:10, and 5:1.
Grovy India Share Fundamentals:
As per Trendlyne data, following are the fundamentals for stock analysis of Grovy India:
- Annual Revenue fell 4.41%, in the last year to ₹20.24 Cr. Its sector's average revenue growth for the last fiscal year was 25.65%.
- Annual Net Profit rose 10.66% in the last year to ₹1 Cr. Its sector's average net profit growth for the last fiscal year was 115.72%.
- Stock Price rose 96.45% and underperformed its sector by 21.68% in the past year.
- Debt to Equity Ratio of 0.6 is less than 1 and healthy. This implies that its assets are financed mainly through equity.
- Mutual Fund Holding remained the same in the last quarter at 0%.
- Promoter Share Holding stayed the same in the most recent quarter at 72.58%.
About Grovy India:
Grovy India Limited was established in the year 1985, with the purpose of developing extraordinary real estate properties that would change the scenario of the construction industry. Equipped with teams of skilled and experienced engineers, architects, planners and designers Grovy has established itself as developer of 'Boutique Apartments'.
So far, Grovy India is active as one of the Top Builders in South Delhi with many luxury housings developed by our team. Due to the overwhelming response from our esteemed customers, we have ventured into Delhi/NCR all the way to the holy reverie of Rishikesh.
While foraying successfully in the construction of World-Class residential spaces, Grovy India has a vision to expand into the development of high rise residential complexes, group housing societies, retail, commercial and hospitality spaces.
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