4x The Rewards! 4:1 Bonus Issue Confirmed By Jindal Group Stock, Record Date In Feb; Big Win For Investors?

The textile manufacturer Jindal Worldwide Limited produces household textiles, shirts, and denim. It is the largest producer of fully integrated denim fabrics in India. Leading the Indian textile industry, Jindal Worldwide serves customers in North and South America, Europe, Africa, and Middle East Asia in addition to its Indian presence. On September 02, 1986, Jindal Worldwide Limited (JWL), a division of the Ahmedabad-based Jindal Group, was established as "Jindal (India) Textiles Mills Private Limited."

Jindal Worldwide Bonus Shares Record Date

"We wish to hereby inform that the Board of Directors has fixed Friday, 28th February, 2025 as the "Record Date" for the purpose of determining the equity shareholders of the Company eligible for bonus equity shares of the Company," said Jindal Worldwide in a stock exchange filing.

"Jindal Worldwide Limited - letter dated 16th January, 2025 for Postal Ballot Notice and 17th February, 2025 for Voting results and Scrutinizers' Report, intimating the approval of Shareholders for issuance of Bonus Equity Shares in the ratio of 4:1," the company further informed stock exchanges.

Jindal Worldwide Q3 Financials

The company's December 2024 quarter net sales of Rs 585.88 crore represented a 31.29% growth over the December 2023 quarter's net sales of Rs 446.24 crore. In the quarter that ended in December 2024, its net profit was Rs. 18.20 crore, a 13.2% drop from Rs. 20.97 crore in the quarter that ended in December 2023. EBITDA decreased 2.68% from Rs. 42.61 crore in Q3FY24 to Rs. 41.47 crore in Q3FY25.

Jindal Worldwide Share Price Target

"Jindal Worldwide stock price is slightly bullish on the Daily charts with strong support at 360. A Daily close above resistance of 401 could lead to a target of 441 in the near term," commented A R Ramachandran, Independent Research Analyst.

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