Small-cap electrodes and refractories company, Raghav Productivity Enhancers is planning bonus issue rewards, which will be the second time in 14 months. Trading over Rs 1,200 level, Raghav Productivity has a strong track record of bonus issuance. On the day of the proposal, the stock price rallied by nearly 12% and came near its 52-week high. The small-cap has a healthy return on equity.
Raghav Productivity Enhancers Share Price:
After market hours of October 11, the stock ended at Rs 1206.95 apiece, up by 8% on BSE, with market cap of Rs 2,770.26 crore. During trading hours, the stock rallied by nearly 12% to hit an intraday high of Rs 1249.40 apiece, which was near its 52-week high of Rs 1,258 apiece.
From its 52-week low of Rs 532 apiece, the stock has nearly risen by 127% as of now.
Data from BSE showed that the stock's price-to-equity ratio is at 112.40x, while the return on equity is healthy at 15.52%.
Raghav Productivity Enhancers Bonus Issue:
On October 11, in its regulatory filing, Raghav Productivity said, "We hereby intimate that meeting of the Board of Directors of the Company for the F.Y. 2024-25 will be held on Friday, 18th day of October 2024 at 10:30 A.M. (IST), through Video Conferencing/Other Audio Visual means (VC/OAVM) inter alia, to transact the following business:
- To consider and approve the Un-audited Financial Results (Standalone and Consolidated) for the Quarter/Half-year ended as of 30th September, 2024.
- To consider and approve the proposal for an Increase in Authorized Capital of the Company subject to necessary approvals
- To consider and approve the proposal for the issue of bonus equity shares subject to necessary approval.
- To consider and approve proposal to make some investments."
This will be Raghav's third bonus issue overall, but his second in less than 14 months. The last bonus issue was of 1:1 ratio in August 2023. The company's first bonus issue stood at a 2:5 ratio which took place in May 2018.
Since June 2021, the company has delivered up to 5 dividends, as per Trendlyne data. In the last 12 months, the stock has distributed up to Rs 0.90 dividend per share. It has a dividend yield of 0.07%.
The company has not carried any stock split yet.
About Raghav Productivity Enhancers:
Raghav Productivity Enhancers is the world's largest manufacturer of Silica Ramming Mass. Silica ramming mass is a high-purity refractory material used to line induction furnaces, shielding them from extreme temperatures and chemical reactions during metal melting, while offering strong thermal and mechanical durability.
In technical collaboration with JWK AB Sweden, the company has been supplying our superior products to both big capacity plants across India and to over 35+ countries worldwide.
Over the years, the company has established itself as the largest exporter and the only pan-India supplier of ramming mass amongst an unorganised and fragmented market. The company supply its products across India and the world, with many distinguished steel manufacturers and foundries being its customers.
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