Upcoming Stock Split: Board of Sugar Stock To Meet This Week For Stock Split Purpose; Do You Own?

During Friday's closing session on the BSE, Davangere Sugar Company Ltd, a small-cap FMCG firm, had a market capitalization of Rs 796.61 Cr. With a current capacity of 6000 TCD, Davangere Sugar Company Ltd is a significant participant in the sugar market. Due to the Board of Directors' meeting on April 19 to discuss and approve the stock split, market observers are probably going to be closely monitoring the stock this week.

Davangere Sugar Company Stock Split

"Pursuant to the provisions of regulation 29 (3) (a) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Meeting of the Board of Directors of the Company is scheduled to be held on Friday, April 19, 2024, at 01:00 P.M., interalia, to transact the following businesses: 1. To consider and approve the proposal to Sub- Division /Split of the Equity Shares of the Company 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," said Davangere Sugar Company in a regulatory filing.

Davangere Sugar Company Financials

On a standalone basis, the company reported revenue from operations of Rs Rs 78.31 crore in the December 2023 quarter down 15.85% from Rs. 93.07 crore in the December 2022 quarter. Its net profit reached Rs. 5.61 crore in Q3FY24 up 144.11% from Rs. 2.30 crore in Q3FY23. Davangere Sugar Company said in a stock exchange filing that its quarterly EBITDA stood at Rs. 16.44 crore in the reported quarter which was Rs. 17.17 crore in the same quarter of FY23, representing a fall of 4.25% YoY.

Davangere Sugar Share Price History

On Friday, the shares of Davangere Sugar Company closed on the BSE at Rs 84.67 apiece down by 2.79% from the previous close. The stock reached a 52-week-high level at Rs 120.00 on (01/09/2023) and a 52-week-low level at Rs 49.16 on (11/05/2023).