The shares of India’s pioneer and largest producer of Crumb Rubber Modifier rose 13 percent to Rs 840 per share on Monday following the announcement of a bonus issuance by the company.
At 1:20 p.m.On the Bombay Stock Exchange, Tinna Rubber and Infrastructure Ltd shares were trading at Rs 791.05 a share, up Rs 63.30 or 8.70 percent,company has a market value of Rs 680 crores.
According to the company’s BSE report,On July 29,2023.The company’s board of directors approved the Bonus Issue of Equity Shares in a 1:1 ratio, which means the company would issue one bonus share for every one shares owned by existing shareholders.
As per BSE data, Ace investor Dolly Khanna holds 1,12,848 shares or 1.32 percent stake in the company as of the June 2023 quarter.
The company’s stock has gained returns of 105 percent in six months and 118 percent over a year. A shareholder’s investment of Rs. 1 lakh in the company would be worth Rs. 2.18 lakhs after a year and Rs. 2.05 lakhs after a half-year.
Company revenues fell to Rs 80 crore in Q1FY24, from Rs 82 crore in the corresponding quarter of the previous year(Q1FY23).Furthermore, its net profit climbed to Rs 7.01 crore in Q1FY24 from Rs 6.14 crore in Q1FY23.
The company’s profitability ratios have slightly grown, with return on equity increasing from 21.82 percent to 22.71 percent and return on capital employed increasing from 27.41 percent to 28.10 percent.
As per shareholding pattern,The promoters own 73.81 percent of the firm and retail investors own 25.05 percent.
Tina Rubber & Infrastructure Ltd is a global leader in the field of bituminous products and is primarily engaged in the conversion of end-of-life tyres (ELT) into crumb rubber and steel wires.
Written by Omkar Chitnis
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