Get 10 Shares For Every 1 Held: 1:10 Stock Split Coming On March 14; Buy To Maximize Gains?

The most prominent electronics chain operator in eastern India is Mehai Technology. It is a full-service electronics retail chain that provides a variety of products, such as mobile phones, laptops, televisions, home appliances, and more. In accordance with the Companies Act of 1956, the company was established as a private limited company on December 13, 2013 and was renamed "Mehai Technology Limited" as a result of its conversion to a public limited company on June 29, 2017. After the Board announced the record date for a 1:10 stock split, Mehai Technology's shares finished Tuesday at a 5% upper circuit limit at Rs 110.50 per share, with a market capitalisation of Rs 273.05Cr on the BSE.

Mehai Technology Stock Split

"In furtherance to our earlier intimations dated January 24, 2025 and February 22, 2025 on the captioned subject and pursuant to approval accorded by the Shareholders of Mehai Technology Limited ("the Company") through EGM held on February 22, 2025 for the Sub-division/Split of face value of Equity Shares of the Company and Regulation 42 of the Listing Regulations, the Company has fixed Friday, March 14, 2025 as the "Record Date" for determining entitlement of Equity Shareholders for the purpose of Sub-division/Split of face value of Equity Shares of the Company," said Mehai Technology in a stock exchange filing.

The record date has been declared for the purpose of determining entitlement of equity shareholders for the purpose of split/subdivision of existing equity shares of the company, such that 1 equity share having face value of Rs. 10/- each, fully paid-up, will be subdivided into 10 equity shares having face value of Re. 1/- each, fully paidup, as per Mehai Technology.

Mehai Technology Financials

In the December 2024 quarter, the company's net sales were Rs 55.07 crore, rising 1036.83% from Rs 4.84 crore in the December 2023 quarter. In the quarter that ended in December 2024, its net profit was Rs. 5.46 crore, growing 101190.74% from Rs. 0.01 crore in the quarter that ended in December 2023. EBITDA increased by 1923.26% from Rs. 0.43 crore in Q3FY24 to Rs. 8.70 crore in Q3FY25.

Mehai Technology Share Price Target

"Mehai Technology stock price is bullish on the Daily charts with strong support at 100. A Daily close above resistance of 125 could lead to a target of 150 in the near term," stated A R Ramachandran, Independent Research Analyst.

Disclaimer

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