The shares of the largest paint contractor gained up to 2.4 percent after the company’s board fixed a record date for the issue of bonus shares in a 1:1 ratio. 

With a market capitalization of Rs 91.45 crore, the shares of Siddhika Coatings Ltd closed at Rs 296.00 per share, increasing around 1.09 percent as compared to the previous closing price of Rs 292.80 apiece. 

According to the exchange filing, Siddhika Coatings Ltd’s board of directors has fixed a record date as, July 18, 2024, and approved the issue of bonus shares in a 1:1 ratio which means 1 equity share of Rs 10 each for every 1 equity share of Rs 10 each held by the Equity shareholders of the Company as on the record date fixed by the company. 

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Looking into Siddhika Coatings Ltd’s financial performance, revenue increased by 29 percent from Rs 16.03 crore in H1FY24 to Rs 20.79 crore in H2FY24. During the same time frame, net profit increased by 13 percent from Rs 2.08 crore to Rs 2.36 crore. 

The company’s profitability measurements indicate an improvement in return on equity (RoE) from 7.04 percent in FY 21-22 to 13.72 percent in FY 22-23, while return on capital employed (RoCE) grew from 8.60 percent to 17.65 percent. The net profit margin (NPM) was 10.94% in fiscal year 22-23. 

The company’s latest ownership pattern shows that promoters control 63.09 percent, retail shareholders own 36.91 percent, and domestic institutional investors own 0%. 

Siddhika Coatings Limited is an Indian-based company. The Company imports and exports natural and synthetic resins, molding powders, adhesives and cement, oil dyes, distempers, cellular paints, colors, varnishes, enamels (including gold and silver leaf enamels), soap, and other items. 

Written by:- Abhishek Singh 


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