1:2 Stock Split: Engineering Sector Stock Set To Be Cheaper, Shares Zoom 409% In 1-Yr

Small cap company operating in engineering sector, Elecon Engineering Company shares will soon become affordable as the company today fixed July 19, 2024 as the record date for 1:2 stock split/sub-division of shares. Current market price of Elecon Engineering share on BSE is Rs 1343.85 per share with intraday gain of 0.47%. Elecon Engineering shares offered attractive return of 118% in last 1-year and gained 845% in last 3-years.

The company also declared a final dividend of Rs 2 per equity share of the face value of Re 1.00 per share with record date set as June 14, 2024. The company has a market capitalisation of Rs 15,077.99 crore. Check key details below:

Elecon Engineering Sets Record Date For Stock Split: As per the exchange filing of Elecon Engineering issued as on July 4, 2024, "Pursuant to the subject referred Regulation, this is to inform you that the Company has fixed Friday, 19th July, 2024 as the "Record Date" for determining entitlement of Equity Shareholders for the purpose of sub-division/ split of existing Equity Shares of the Company, such that 1 (one) equity share having face value of Rs. 2/ - (Rupees two only) each, fully paidup, will be sub-divided into 2 (two) equity shares having face value of Re. 1/- (Rupee one only) each, fully paid-up, ranking pari-passu in all respects which was approved by the Equity Shareholders at the 64th Annual General Meeting held on 25th June, 2024."
Earlier, the Board of Directors of the company on April 19, 2024 approved sub-division of the equity shares of face value of Rs. 2.00 /- each into 2 equity shares of the face value of Rs. 1.00/- each."

Elecon Engineering Share Performance: The 52-week high price of Elecon Engineering Company share on BSE is Rs 1398.65 per share (as on 02/07/2024) and 52-week low price is Rs 618.15 per share (05/07/2023), respectively. The PE of Elecon Engineering Company stood at 41.42 and ROE at 27.02. Elecon Engineering Company shares delivered attractive return of 45% in just last 6-months, jumped 408% in 2-years, surged 2799% in last 5-years.

Elecon Engineering Company Dividend: The exchange filing of the company issued on April 19, 2024 announced, "The Board of Directors has recommended Final Dividend of Rs. 2.00/- (i.e. 100%) per Equity Share of Rs. 2.00/- each for the financial year 2023-24."

Elecon Engineering Company Financial Results: The consolidated net profit of Elecon surged 52.56% to Rs 103.65 crore for Q4 FY 2024 as compared to Rs 68 crore announced in the corresponding quarter of last year (Q4FY23). Revenue for the Q4 FY24 announced at Rs 565 crore, up 33.0% as compared to Rs 425 crore announced in the corresponding quarter of last year.

Profit before tax rallied 62.01% to Rs 136.24 crore for the quarter under review as against Rs Rs 84.09 crore declared in the corresponding quarter last year.
The company's EBITDA jumped 45.8% YoY to Rs 135 crore, up 45.8% as against Rs 93 crore declared in the similar quarter of last year. EBITDA margin improved by 210 basis points YoY basis to 24%.

Bonus Share History: Elecon Engineering Company offered 1 bonus issue since October 10, 2007. Its last bonus issue was declared in the ratio 2:1 with ex-date fixed as October 10, 2007.

Disclaimer: The stock highlights the record date for stock split and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.