Bonus Share, Dividend On April 4: Beverage Stock Soars 12.76% On Dividend, Bonus Proposal

Small cap company from the Breweries & Distilleries industry GM Breweries Ltd witnessed sharp rally of 12.76% soon after the company announced its upcoming meeting to be held on April 4, 2024 to consider bonus share and dividend. Last trading price of GM Breweries share price on BSE is Rs 714.05 per share with intraday gain of 80.80 points or 12.76%. GM Breweries shares offered return of 13.86% in last 2-weeks and fell 1.62% in last 6-months. Check details below:

GM Breweries Share Performance & Return: The 52-week high price of GM Breweries share on BSE is Rs 808.40 per share and 52-week low price is Rs 521.95 per share, respectively. The company has a market capitalisation of Rs 1305.11 crore. GM Breweries shares declined 0.96% year-to-date, soared 64% in last 3-years, and jumped 7% in last 5-years.

GM Breweries To Consider Dividend On April 4: According to the exchange filing of the company dated April 1, 2024, "a meeting of the Board of Directors of the Company is scheduled to be held through audio visual means on Thursday April 04, 2024 at 11.30 A.M. to consider and to take on record interalia the Audited Financial Results for the quarter/year ended March 31,2024 & consider declaration of Dividend, If any, on the equity shares of the company, for the financial year 2023-2024.The notice of the same was given on March20,2024."

GM Breweries To Mull Bonus Share: The BSE filing stated, "Further kindly not that the Board would consider the proposal for issue of Bonus Shares by way of capitalization of reserves, subject to approval from Members of the company."

GM Breweries Financial Performance: The company announced a decline of 13% in its net profit for the quarter ended December 31, 2024. It declared sluggish earnings for Q3 of the December 2023 quarter. The company announced fall of 13.1 in its net profit on year at Rs 23 crore for December 2023 quarter as against Rs 26 crore declared in the corresponding quarter of the last year. Its EBITDA declared at Rs 25.2 crore, down 24.3% for December 2023 quarter as against Rs 33.3 crore reported in the similar quarter of last year. Its margin declined steeply for the quarter ending December 31, 2024 to 16% as against 22% in the similar period of last financial year. Revenue recorded a marginal growth of 2% for Q3FY2024 TO Rs 157 crore as against Rs 154 crore in the similar quarter of last fiscal year.

GM Breweries Limited About: G.M. Breweries Ltd is engaged in the manufacturing, marketing, and sale of alcoholic beverages including country liquor and Indian made foreign liquor. It offers products under G.M.Santra, G.M.Doctor, G.M.Limbu Punch, and G.M.Dilbahar Sounf brand names. It was founded by Jimmy William Almeida on December 9, 1981 and is headquartered in Mumbai.

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