This micro-cap stock engaged in trading engineering tools and components hits the 10 percent upper price band after the announcement of bonus shares issuance in the ratio of 1:1.
Price Movement
In Monday’s trading session, Bombay Metrics Supply Chain Ltd’s share price hit a 10 percent upper circuit limit reaching Rs.140.8 per share from its previous close of Rs.128 apiece.
What happened
On 17th August 2024, the Board of Directors of Bombay Metrics Supply Chain Ltd. approved a 1:1 bonus share issuance, with one equity share of Rs.10 each allocated for every existing share held.
The company will credit the bonus shares to eligible shareholders within two months from the Board’s approval, by October 16, 2024.
The bonus share issuance will improve share liquidity and enhance shareholder value by rewarding existing investors without additional cost. This move can also positively influence market perception and strengthen the company’s balance sheet.
Additionally, following the earlier letter regarding a final dividend of Rs.0.45 per share for FY24, the record date for determining entitlement is set as August 30, 2024.
Also read
Manufacturing Divisions
The company’s manufacturing divisions include Die Casting, Investment Casting, Extrusion, Assemblies, CNC Machining, Forging, Stampings, and Rubber Molding. These capabilities serve a range of industries such as Lighting, Automotive, Agriculture, Electronic Components, and E-mobility.
International Presence
Bombay Metrics Supply Chain Ltd. connects customers with ISO-certified suppliers across India, China, Australia, Taiwan, Vietnam, and Malaysia. It operates warehouse facilities in Ohio, California, Texas, and Mexico. Headquartered in Columbus, Ohio, the company also has offices in Mumbai, Ningbo and Shenzhen (China), Poland, and Mexico.
Financial Performance
Bombay Metrics Supply Chain Ltd. reports financial results on a half-yearly basis. In H2FY24, the company’s revenue from operations surged by 63.63 percent year-on-year, reaching Rs.43.69 crore, up from Rs.26.7 crore in H2FY23. On a half-yearly basis, revenue increased by 4.04 percent from Rs.41.99 crore in H1FY24.
The company’s Profit After Tax (PAT) skyrocketed by 2766.6 percent to Rs.2.58 crore in H2FY24, compared to Rs.0.09 crore in H2FY23. Additionally, net profit rose by 219 percent from Rs.0.81 crore in H1FY24.
Business Overview
Bombay Metrics Supply Chain Ltd. is a full-service provider of global manufacturing, engineering, and supply chain management services. It is an official resale partner of MESH in the Asia Pacific Region. MESH is an all-in-one solution for global sourcing, procurement, supplier, and quality project management for manufacturers.
Written by – Siddesh S Raskar
Also read
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
