FMCG Stock Revises Record Date For 1:1 Bonus Shares: Do You Own?

Refineries Ltd. Under the brand name "Rich Soya," Shri Venkatesh Refineries Limited (SVRL) is one of the refinery companies with top brands of edible oil in Maharashtra. The company is engaged in the production, processing, and preservation of palm oil and soybean oil and has a network of 145 dealers and distributors operating throughout India. The company has declared bonus shares in 1:1 ratio and earlier the Board fixed 29th October 2023 as the record date but in an exchange filing dated 17th October, the Board said the record date has been revised to 28th October 2023.

"With reference to earlier intimation dated 06/09/2023 and 18/09/2023 regarding record date intimation, We would like to inform that the Company has revised record date to 28th October 2023 for issuance of Bonus Shares," said Shri Venkatesh Refineries in a stock exchange filing.

The company reported a net income of Rs 152.88 Cr in Q1FY24 compared to Rs 176.33 Cr in Q1FY23. Its net expenses stood at Rs 145.55 Cr in the June 2023 quarter as against Rs 166.47 Cr in the June 2022 quarter. Shri Venkatesh Refineries said its EBIT reached Rs 7.32 Cr in Q1FY24 compared to Rs 9.86 Cr in the same quarter of the previous fiscal year. Its net profit stood at Rs 3.45 Cr in Q1FY24 as against Rs 6.24 Cr in Q1FY23.

On Tuesday, the shares of Shri Venkatesh Refineries closed on the BSE at Rs 198.45 apiece down by 5.34% over the previous close of Rs 214.90. The scrip made a 52-week-high of Rs 268.50 on (19/10/2022) and a 52-week-low of Rs 118.20 on (18/07/2023), indicating that at the current market price, the shares of Shri Venkatesh Refineries are trading 26.08% below the 1 year high and 67.89% above the 1 year low. During Q4FY23, the company recorded promoters' shareholding of 73.53% and public stake of 26.47%.