Low PE Debt Free Company Fixes Record Date For 2:1 Bonus Shares

Bhansali Engineering Polymers Ltd is a small-cap company that deals in the specialty chemicals business. The company is one of the top producers of high-quality polymers and is a pioneer in the production of Acrylonitrile Butadiene Styrene (ABS). The company has announced bonus shares in a 2:1 ratio and for the purpose of the same, record date has been announced on Thursday, 22nd June.

"Pursuant to Regulation 42 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, it is hereby informed that the Board of Directors of the Company has through circular resolution fixed Wednesday, 5th July 2023 as the Record Date for the purpose of ascertaining the shareholders entitled to receive Bonus Shares in the ratio of 2:1 i.e. 1 (One) Equity Share of the face value of Rs 1/- each for every 2 (Two) Equity Shares held as approved by shareholders at the Annual General Meeting held on 19th June 2023.

The holders of the equity shares of the Company, whose names appearing in the Register of Members maintained by the Company's Registrars and Transfer Agent/ List of Beneficial owners, as received from the National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL), as on the aforesaid record date, will be entitled to the Bonus Shares of the Company in the aforesaid ratio," said Bhansali Engineering Polymers in a stock exchange filing.

During Q4FY23, the company recorded a net income of Rs 335.72 Cr down by 25.42% YoY from Rs 450.14 Cr in Q4FY22. The company said its net profit stood at Rs 14.25 Cr during the March 2023 quarter down by 80.54% YoY from Rs 73.27 Cr recorded in March 2022 quarter. Bhansali Engineering Polymers said its EPS stood at Rs 0.86 during Q4FY23 down by 80.54% YoY from Rs 4.42 in Q4FY22.

The company has reported a total income of Rs.1391.46 crores during the financial year ended March 31, 2023, as compared to Rs.1412.96 crores during the financial year ended March 31, 2022, down by 1.52% YoY. During 12MFY23 its net profit stood at Rs 136.75 Cr down by 60.93% YoY from Rs 350.03 Cr in 12MFY22.

The shares of Bhansali Engineering Polymers opened today on the BSE at Rs 129.00 apiece. The stock made a 52-week-high of Rs 167.25 on (07/06/2023) and a 52-week-low of Rs 87.15 on (27/03/2023). During Q4FY23, the company recorded promoters' shareholding of 56.71%, FIIs stake of 0.93%, and public stake of 42.38%. As per the data of Trendlyne, Bhansali Engineering Polymers is a debt-free company and has a price-to-earnings ratio (PE) of 15.9, lower than its sector PE ratio of 48.5.