This paint stock reached its 52- week high in the market today after the company announced the record date for its bonus issue of shares in the ratio of 1:5.
Share price of Berger Paints closed at Rs. 722.35 per share. It gained another percent to reach its 52- week high of Rs. 728.70 apiece. The stock has returned 24.43% in the last six months. In the last five years, the stock has grown a total of 140.22%
According to a recent exchange filing, the company has announced the record date as 23 September 2023 for their upcoming issue of bonus shares in the ratio of 1:5. That means for every shareholder who holds 5 equity shares of face value of Rs. 1 each will receive 1 equity share of face value of Rs. 1. The proposal was recommended by the Board of Directors in their recent meeting held on 9 August 2023 and approved by the shareholders on 8 September 2023.
It has a market capitalisation of Rs. 70,092 crore. Comparing their financial performance on a QoQ basis, the company recorded a revenue of Rs. 2443.63 crore in Q4FY23, an increase of 23.9% to Rs. 3029.51 crore in Q1FY24. It also saw an increase in net profit by 90.8% from Rs. 185.69 crore in Q4FY23 to Rs. 354.35 crore in Q1FY24. It maintains a low debt to equity ratio of 0.17. The company has a good average ROE for the last three years of 22.39. For Q1 FY24, the company has a market share of 20.2%
Berger Paints is a multinational paint company headquartered in Kolkata, India. The company has manufacturing units all around the nation. It was incorporated in the year of 1923 and has grown itself to be one of the largest paint companies in the world in the last century.
Written by Bhumika Khandelwal
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