1:1 Bonus Issue, Rs 2/Share Dividend: Hotel Stock Gives Update On Bonus Share Ahead Of Record Date

1:1 Bonus Issue, Rs 2/Share Dividend: Hotel Stock Gives Update On Bonus Share
Small cap company from Hotels sector, Advani Hotels & Resorts (India) Ltd on March 15 issued new update pertaining to 1:1 bonus share via its BSE filing. Last trading price of Advani Hotels shares on BSE 159.55 per share with intraday gain of 1.30%.

Advani Hotels shares zoomed 121% in last 1-year and gained 81% in last 6-months. The company has a market capitalisation of Rs 737.43 crore. Earlier Advani Hotels fixed March 20, 2024 as the record date for 1:1 bonus share. Check details below:

Advani Hotels Declares Update On Bonus Share: As per the regulatory filing of the company dated March 15, "we wish to inform you that the Company has received In-principle Approval from National Stock Exchange of India Limited and BSE Limited ('the Exchanges') for issue and proposed allotment of 4,62,19,250 Equity Shares of ₹ 2/- each as Bonus Shares in the ratio of 1:1 i.e., 1 (One) new fully paid-up Equity Share of ₹ 2/- each for every 1 (One) existing fully paid-up Equity Share of ₹ 2/- each, held in the Company, in terms of Regulation 28(1) of SEBI (LODR) Regulations, 2015, on March 14, 2024."

Advani Hotels Advani Hotels Dividend In 2024: Advani Hotels also announced its Interim Dividend @ 100% i.e. Rs. 2/- (Rupees Two only) per Equity Share of face value of Rs. 2/- each for the Financial Year 2023-2024. The ex-dividend date was February 9, 2024.

Advani Hotels Shares Performance: The 52-week high price of Advani Hotels share on BSE is Rs 175.00 apiece and 52-week low price is Rs 66.75 apiece, respectively. Advani Hotels stock gained 53% year-to-date, soared 81% in last 2-years, and offered return of 156% in last 3-years. In last 5-years, Advani Hotels stock surged 131%.

Advani Hotels Financial Performance: Advani Hotels informed via its BSE filing that it registered a milestone of the highest ever revenue of INR 3,304 lakhs in Q3FY24, the highest revenue in any quarter in its operating history, registering a growth of 11% (YoY). The Q3FY24 Profit Before Tax (PBT) declared at INR 1,270 lakhs, registering a growth of 8% (YoY).

The Company is debt-free and the Liquid Fund Reserves (including Fixed Deposits) are at INR 4,812 lakhs as on December 31, 2023, after deducting a 70% Interim Dividend pay-out of INR 647 lakhs in June 2023 and after deducting cash-outflows towards capital expenditures during the ninemonth period of the current financial year, added the BSE filing of the company.

The EBITDA soared by Rs 106 lakhs as against the corresponding quarter of last year. However, the EBITDA margins fell by 1% due to strategic investments in its workforce, including hiring new talent and rewarding the existing talent pool with increments to encourage and retain valuable employees. Adavani's Profit After Tax (PAT) stood at INR 931 lakhs, up 6%.

Advani Hotels About: Advani Hotels & Resorts (India) Limited (ADVANIHOTR) is a publicly-traded, Company incorporated in 1987, headquartered in Mumbai and is listed on the Bombay Stock Exchange and National Stock Exchange of India. It owns and operates the 'Caravela Beach Resort Goa'; an independent, 201-key, 5-Star Deluxe golf resort on the Arabian Sea, designed by the world-famous architects WATG (who designed both the 'Atlantis' resorts).

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