1:10 Stock Split Set for January 30th: Textile Stock Hits 572% Gains in 5 Years; Time to Buy?

Mohite Industries Ltd. operating in the textile industry, has recently announced an exciting development for its shareholders. This small-cap company will be conducting a stock split, which will make its shares more accessible to a wider range of investors. The record date for this stock split has also been fixed.

Mohite Industries Stock Split Details and Record Date

In a recent announcement, the board of directors of Mohite Industries confirmed that the company will conduct a sub-division of its equity shares in the ratio of 10:1. This means that each share of Mohite Industries will be divided into 10 new shares. The current face value of each share is Rs 10, and post-split, the face value of each share will be reduced to Re 1.

The ex-date for the stock split will be January 31, 2025, and shareholders whose names appear in the company's records as of this date will be eligible for the stock split. The company clarified that this action was approved by the shareholders through a postal ballot on December 21, 2024.

Mohite Industries Stock Performance and Returns

Mohite Industries' shares have been a hot topic among investors due to their impressive performance. On January 6, 2025, the shares were trading at Rs 59.48 per share, down 2% from the previous session. The stock reached its 52-week high of Rs 163.45 and its low of Rs 33. The company has a market capitalization of Rs 119.55 crore with a return on equity (ROE) of 2%.
In the last five years, Mohite Industries shares have delivered multibagger returns of over 500%, with a 572% increase in value. Over the past year, the stock has gained 45.13%, while in the last six months, it has risen by 13.65%. However, this month, the stock has dipped by 1%.

Recent Corporate Actions from Mohite Industries Ltd.

Mohite Industries Ltd. is undergoing its first-ever stock split. In addition to this, the company has a consistent history of rewarding shareholders with dividends, having declared five dividends since August 9, 2002, as per data from Trendlyne. Notable dividend payouts include Rs. 0.50 per equity share in September 2011 and November 2010, Rs. 1.00 per equity share in September 2007, and Rs. 0.50 per equity share in September 2006.

About Mohite Industries Ltd.

Mohite Industries Ltd., established in 1990, is a publicly held company based in Kolhapur, Maharashtra, India. The company specializes in manufacturing and selling cotton yarn, including compact and slub yarns, and gray knitted fabrics as per the data from the market screener. The company operates through two primary segments: textiles and hydro power. Its spinning unit is located in Hatkanangale District, Kolhapur, while the hydroelectric power project is situated in Tal-Radhanagari, District Kolhapur.