FMCG Stock Announces Big Update On Its 1st Ever 1:1 Bonus Shares After FIIs Stake Up In Q3

Gujarat Ambuja Exports Ltd is a mid-cap company in the FMCG sector. After declaring impressive financial growth in the quarter ended 31st December 2023 the company on Thursday declared a major update regarding its 1st ever 1:1 bonus shares which triggered the stock to end on a green note.

"Pursuant Regulation 42 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that the Register of Members and Share Transfer Books of the Company will remain closed from Saturday, 09th March, 2024 to Friday, 15th March, 2024 (both days inclusive) for taking record of the members of the Company for the purpose of issue of Bonus equity shares of the Company in the proportion of 1:1 i.e. 1 (One) new fully paid-up Bonus equity share of Rs. 1/- (Rupee One only) each for every 1 (One) existing fully paid-up equity share of Rs. 1/- (Rupee one only) each, subject to approval of the Members of the Company that is being obtained through Postal Ballot," said Gujarat Ambuja Exports in a regulatory filing on Thursday.

"Please note that members whose names appear (a) as beneficial owners in the statement(s) furnished by the Depository(ies) and (b) as members in Register of Members of the Company as on the close of business hours on Friday, 08th March, 2024 would be entitled for issue of Bonus equity shares," the company further informed to the stock exchanges.

In addition, Gujarat Ambuja Exports released its Q3 earnings, noting a 22.88% rise in net profit to Rs 100.66 crore for the quarter that ended on December 31, 2023, from Rs 81.92 crore recorded in the same period the previous year. Compared to the same quarter last year, when revenues were Rs 1129.86 crore, they jumped 15.22% to Rs 1301.78 crore for the reporting quarter.

During Q3FY24, the company reported promoters' shareholding of 63.84%, FIIs stake of 4.09%, DIIs stake of 1.16% and public stake of 30.92%. Promoter holdings in the company remain the same at 63.84% as of the December 2023 quarter; FII/FPI holdings have gone up from 3.93% in the September 2023 quarter to 4.09%; mutual funds stake has increased from 0.39% to 1.10%; and institutional investors holdings have increased from 4.36% in Q2FY24 to 5.25% in Q3FY24, as per the data of Trendlyne.