Bonus shares: Greenm Industries has decided to issue bonus shares to its shareholders in a ratio of 1: 1. This means that the shareholders of the company will get a shares for free in exchange for every stock with them. The company’s board has approved this decision. However, Greenm Industries has not yet announced a record date for this bonus issue. The company said in an information sent to the stock markets that it will give information about the record date in the coming days.
According to data on the exchange, Greenm Industries is going to distribute its shareholders bonus shares for the first time. The company has earlier announced stock split and dividend on several occasions, but it had never released bonus shares yet.
Companies issue bonus shares to capitalize on their free reserve, increase their free reserves, EPS and paid-up capital as well as to reduce the reserve. These shares are issued to shareholders without any additional cost and hence they are also called free stocks.
Greenm Industries has also released its December quarter results. The company said that its net profit increased by 6.2 per cent to Rs 602 crore in the December quarter, which was Rs 563 crore in the same quarter last year. However, its net profit came down to Rs 12.5 crore during this period, which was Rs 25 crore in the same quarter last year.
The company said the value growth and volume growth of its laminate business during the December quarter increased by 4 per cent and 2.6 per cent on an annual basis. At the same time, the company’s engineered floor, engineered doors and plywood business increased at the rate of 13.8%, 49.5% and 90.7% respectively on the annual basis.
Greenem Industries shares closed at Rs 550 with a slight decline of 0.1 per cent on Friday 31 July. So far, the company’s shares have fallen by 7.77 percent in January.
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