This Small Cap Textile Entity To Issue Bonus Shares: Check Details

Its earning season and companies along with results announcement are also announcing corporate actions. Likewise, a small cap m-cap company into textiles has announced bonus shares.

Bonus shares issuance proportion:

In its filing the company said the board has recommended issue of Bonus Shares in the proportion of 2 (Two) Equity Shares of Rs. 10/- each for every 1 Equity Share of Rs. 10/- (Rupees Ten Only) each held by shareholders of the Company as on the Record Date, subject to the approval of members and other approvals, consents, permissions, conditions and sanctions, as may be necessary.

The Record Date for reckoning eligible shareholders entitled to received bonus shares will be communicated later.

The company also made a disclosure that bonus share issuance is out of a profit or share premium account Security Premium Reserve, General Reserve and Retained Earnings, created out of Profit of the Company.

Nandan Denim Q3Fy22 results:

Revenue at the company increased on a YoY basis to Rs. 538 crore versus on account of increase in capacity utilisation in denim and shirting division. PAT for the review period has also scaled higher to Rs. 19.72 crore.

About Nandan Denim:

This is a small cap firm incorporated in 1994 that is into manufacturing of denim and shirting fabrics. The company in fact as per the company's website is the country's largest denim manufacturer and is operating out of Gujarat.

Disclaimer:

Note the bonus share issuance does not changes the value of your shares and the face value remains the same.

GoodReturns.in