Meeting Agenda - Bonus issue & Stock Split: Board Meeting On 20 June; Do You Own The Stock?

Aartech Solonics Ltd. is a research and development enterprise focused on system solutions for specialised energy applications. It offers a vast array of system solutions and products for every industry that utilises electrical energy. Mr. Anil Anant Raje, the founder, launched Aartech in 1985. Aartech Solonics is one of Dalal Street's multi-bagger stocks since the share price has gone up by 197.63% in just a year. However, what attracts investors even more is that the company's board of directors is scheduled to meet on June 20 to discuss and approve bonus shares and stock split.

Aartech Solonics Upcoming Board Meeting

"Pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), we wish to inform you that a meeting of the Board of Directors of the company is scheduled to be held on Thursday, June 20, 2024 at 11:00 A.M at the registered office of the company i.e., E-2/57, Arera Colony, Bhopal462016 (MP), inter-alia to consider the following matters:

• To consider, discuss and approve the proposal for sub-division/ split of the existing equity shares of the company having a face value of Rs. 10/- each fully paid up in such manner as may be determined by the Board of Directors and subject to approval of the shareholders and such authorities as may be required.
• To consider and approve increase in Authorized Share Capital of the Company
• To consider and approve amendment of Capital clause in the Memorandum of Association.
• To consider and approve the proposal of issuance of Bonus shares subject to approval by shareholders of the company.
• To consider and approve Related Party transaction to be entered between Aartech Solonics Limited (Company) and Aartech Solonics UK Limited.
• To consider and approve Material Related Party Transaction(s) to be entered into with Related Parties during financial year 2024-25.
• To consider and approve authorization to be given to Board of Directors of the company to advance any loan or give any guarantee or provide any security in connection with loan ayailed by any of the company's subsidiary(ies) or any other person specified under Section 185 of the Companies Act, 2013, up to an aggregate Iimit of Rs.10 Crores.
• To consider and approve giving authorization to the Board of Directors of the company to make investments, give loans, guarantees, and provide securities under Section 186 of the Companies Act, 2013, up to an aggregate limit of Rs.10 Crores.
• To consider any other matter with the permission of the chair and consent of majority of the Directors of the Company," said Aartech Solonics in a regulatory filing.

Aartech Solonics FY24 Performance Update

The company had revenue from operations of Rs 9.98 crore for the quarter ended March 20,24, a drop of 5.74% from Rs. 10.58 crore for the same period in 2023. A net loss of Rs. 0.38 crore was reported in Q4FY24, a 59.92% rise compared to Rs. 0.95 crore in Q4FY23. EBITDA fell by 29.82% from Rs. 1.14 crore in March 2023 to Rs. 0.80 crore in March 2024.

Net profit for the entire fiscal year dropped to Rs 1.30 crore in the year that ended in March 2024 from Rs 1.44 crore in the year that ended in March 2023, a 9.72% fall. Sales for the year ended March 2024 jumped 50.95% to Rs 32.74 crore from Rs 21.69 crore in the year prior to the end of March 2023.