Multibagger Carbon Credit Service Provider Announces Record Date For Bonus Equity Shares

As per Wikipedia carbon credit is a common term for any tradable certificate or permit representing the right to emit a set amount of carbon dioxide or the equivalent amount of a different greenhouse gas As the carbon credit service provider, the BSE listed firm EKI Energy Services offers consulting services for carbon credit solutions. So, coming to the core topic, as a corporate action, the multibagger stock has announced record date for its bonus share issuance.

EKI Energy announces record date for bonus shares

"The Board of Directors fixed Friday, July 1, 2022 as the Record Date for the purpose of ascertaining the eligibility of shareholders entitled for issuance of Bonus Equity Shares of the Company in the proportion of 3 (Three) Equity Share of Rs. 10/- each for every 1 (One) existing Equity Shares of Rs. 10/- each, in accordance with the approval of shareholders which has been obtained through Postal Ballot on Friday, June 17, 2022. The above information is also available on the website of the Company www.enkingint.org Kindly take the above information on your records", said the company release.

 

Company's stock price trajectory

The stock over the 1-year period has given over 960% returns but on a YTD basis is down by 34%. The stock's all time low price is Rs. 140 and all time high is Rs. 12,599.95. In the past 1-year, the stock has hit a 52-week low of Rs. 611.3 per share. In trade today, the stock has cracked by over 12%.

Financials

The company's financials look to be good with revenue growth over the last 5 years of 153.91% as against the industry average of 29.67%. Also, in the latest fy22, there has been multi-fold rise in both revenue as well as net income with the latter being at Rs. 383.17 crore as against Rs. 0.2 crore in fy17.

Increasing free cash flow maintained at Rs. 15.47 crore as at the end of Fy21 highlights of the financial health of the company which is quite sound.

Also the company has a high promoter holding of 73.47%. Also, FPI holding in the scrip increased in the March quarter to 5.51% with a change of 0.81%.

Disclaimer

The stock is mentioned for its bonus share issuance details announced today. Nevertheless, it is not a good idea to buy a stock just for the bonus share announcement, please be mindful of it.