During Wednesday’s trading session, the shares of one of the leading designers & manufacturers of process equipment for the pharmaceutical & chemical industry surged 9.8 percent to Rs. 1,505 on NSE, after the company’s Board approved the issuance of bonus shares in a 3:1 ratio.
With a market cap of Rs. 464 crores, at 11:03 a.m., the shares of BEW Engineering Limited were trading in the green at Rs. 1,458.45, up by nearly 6.4 percent, compared to its previous closing price of Rs. 1,370.5.
What’s the news:
The Board of Directors of BEW Engineering at their meeting held on 15th October, considered and approved the proposal for issuing bonus shares.
According to the latest regulatory filings with the NSE, the approved bonus shares is in the ratio of 3:1, meaning that eligible shareholders will receive 3 new fully paid-up equity shares of Rs. 10 each for every 1 existing fully paid-up equity share of Rs. 10 each held as on the record date.
Further, the Board of pharma equipment maker has fixed Friday, 25th October, as the “Record Date” for the purpose of issuance of Bonus shares.
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Financials:
The company experienced a significant growth in its revenue from operations, showing a year-on-year increase of around 14.2 percent from Rs. 106 crores in FY23 to Rs. 121 crores in FY24.
Similarly, its net profit increased during the same period from Rs. 7 crores to Rs. 14 crores, indicating a rise of nearly 100 percent YoY.
Previous News:
On 4th June, BEW Engineering announced the successful manufacturing of the world’s largest Agitated Nutsche Filter (ANF) with a drying option, boasting a gross volume capacity of 32 KL.
This innovative design includes a Twist Lock Teethed Bayonet Ring, which facilitates easy and smooth detachment of the bottom bed.
The ANF allows for the efficient and straightforward execution of critical operations such as washing, filtration, and drying.
Shareholding Pattern:
As per the March 2024 shareholding pattern, the Promoters hold a 47.82percent stake in the company, while Retail Investors hold a 52.18 percent stake in BEW Engineering.
Earlier on 8th May, the Board of BEW Engineering approved the allotment of 3,56,164 equity shares with a face value of Rs. 10 each, at a premium of Rs. 1,530 each, totalling up to Rs. 55 crores to strategic investors on a Preferential Allotment basis.
Among these investors, Ashish Kacholia subscribed to the largest portion, acquiring 1,36,987 equity shares.
Additionally, ace investor Ashish Kacholia has subscribed to an additional 1,36,987 equity shares of the company through his investment firm, Himalaya Finance & Investment Co., bringing his total holdings to 2.74 lakh equity shares.
About the company:
Incorporated in the year 2011, BEW Engineering Limited is engaged in the business of designing and manufacturing engineers of Pharmaceutical & Chemical plants and process equipments.
The company designs and manufactures a special range of filtration, mixing and drying equipments specifically used in pharmaceuticals, sterile applications, intermediate compounds, fine chemicals specialty chemicals, agrochemicals, pesticides, insecticides, dyes and food products.
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Written by Shivani Singh
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