Share price of the stock hit a 2% lower circuit on BSE at Rs. 226.05 in the morning trading session of Friday, as against its previous closing price of Rs. 230.65, after the Board of the company declared a bonus issue and stock split in a 1:2 ratio.
With a market capitalisation of Rs. 239.4 crore, Aartech Solonics Limited has delivered multibagger returns of 197.5 percent in one year, and 58.8 percent of positive returns year-to-date.
Aartech Solonics has notified the stock exchanges regarding the Board’s approval of issuing equity shares through a Bonus Issue in a 1:2 ratio. This means that shareholders will receive 1 fully paid-up equity share for every 2 equity shares held.
Additionally, the Board has approved the proposal of sub-division/split of the existing equity shares of the company in a 1:2 ratio, in which 1 equity share with a face value of Rs. 10 will be split into 2 equity shares with a face value of Rs. 5 each.
The Record Date for the sub-division/split of equity shares will be intimated in due course.
In terms of financials, the company experienced a 170.3 percent quarter-on-quarter increase in income from operations, rising from Rs. 7.34 crore in Q3 FY23-24 to Rs. 10 crore in Q4 FY23-24. However, during the same period, the PAT declined from a profit of Rs. 0.6 crore to a loss of Rs. 0.34 crore.
As of March 2024, the shareholding pattern of Aartech Solonics shows that the Promoters hold a majority stake of 52.68 percent in the company. Foreign Institutional Investors (FII) hold a minimal stake of 0.01 percent, while Retail Investors and Domestic Institutional Investors (DII) hold a 45.92 percent and 1.39 percent stake, respectively.
Aartech Solonics Limited is a system solution-oriented R&D enterprise in the field of specialised and selected energy appliances.
The company is involved in the manufacturing of electricity distribution and control apparatus [electrical apparatus for switching or protecting electrical circuits (e.g. switches, fuses, voltage limiters, surge suppressors, junction boxes etc.); boards, panels, consoles, cabinets and other bases equipped with two or more of the above apparatus for electricity control or distribution of electricity including power capacitors.
Written by Shivani Singh
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