Multibagger NBFC company, Sunshine Capital is in focus this week due to its upcoming Q4 results scheduled during the weekend. The start of this week's session has been bearish for this penny stock as it touched back-to-back 5% lower circuits. Sunshine will announce its quarterly earnings after 1:10 stock split, and 7:1 bonus issuance.
Sunshine Capital Share Price:
Sunshine Capital share price froze at 5% lower circuit to Rs 3.57 apiece on BSE with market cap of Rs 371.88 crore. The stock's 52-week high and low is at Rs 4.13 and Rs 0.46 apiece respectively.
In less than four months of 2024, Sunshine Capital shares have surged by a whopping 190% on the BSE. In six months, the upside is even more massive by 417%. In a year, the stock gained by a huge 170.5%. But in 5-years, the stock has rallied by a breathtaking 2000%. If an investor had invested merely Rs 1,000 in the stock 5 years, their returns would be Rs 20,000, totalling to corpus of Rs 21,000.
Sunshine shares have adjusted to its stock split and bonus ratios.
Sunshine Capital Bonus Issue:
On March 9th, the company approved the allotment of 91,14,63,000 Bonus shares in the ratio of 7:1 i.e., 7 (seven) Equity shares of Rs. 1/- each for every 1 (one) existing fully paid-up Equity Share of Rs. 1/- each held by the Members as on Record Date i.e. 8th March 2024.
Bonus shares are one of the many corporate actions that listed companies announce on several occasions. Bonus shares are like incentives which are free of cost given to investors. Under this corporate action, new shares are issued at the existing Face Value of equity shares of the company. Hence, the face value remains the same post-bonus issue.
Sunshine Capital Stock Split:
Sunshine Capital also turned ex-split on March 8 for its ratio of 1:10. That being said, 1 equity share having a face value of Rs 10 each was split into ten equity shares having a face value of Rs 1 each.
NSDL and CDSL have allotted new ISIN for Equity Shares of thE company having a Face Value of Rs. 1/- (after effecting Sub-division of the Face Value of Equity Shares of the Company).
Generally, share splits mean that listed companies can split their existing shares into a ratio decided by them for a host of reasons. These could be done to improve liquidity, lessen the value of the stock, make it cheaper or simply attract new buying from both existing and new investors.
Sunshine Capital Results:
The company's board of directors are scheduled to meet on April 20, 2024, for the following:
- To Consider and Approve the Audited Financial Results of the Company for the Financial year ended March 31, 2024.
- Any other matter with the permission of the chair, if any.
In Q3FY24, the company posted a net profit of Rs 36.406 lakh against a loss of Rs 86.162 lakh in Q2FY24, however, the profit was lower than PAT of Rs 1.10 crore in Q3FY23. Total income stood at Rs 70.36 crore in Q3FY24, compared to Rs 1.67 crore in Q3FY23 and Rs 1.85 crore in Q2FY24.
About Sunshine Capital:
Sunshine Capital aims to enhance customer satisfaction through an effective application of the system, including processes for continual improvement of the system and the assurance of conformity to customer and applicable statutory and regulatory requirements, including a strong customer focus, the motivation and implication of top management, the process approach and continual improvement.
As per its website, the company is poised for rapid growth. Unique Experience and insight of its Management allows the company to discover new opportunities and reveal their true potential. Growth and money cannot sustain an organization for as long as uniqueness and excellence can. Keeping this in mind Sunshine Capital Limited delivers value and commitment based on the highest professional standards. The Company utilizes structured finance products to provide cost-effective forms of financing that would not otherwise be readily available to clients, with an emphasis on providing long-term finance and trading solutions. The company has a wide Range of Products catering to different segments and meeting varied requirements of the customers.
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