1:1 Bonus Share Approved: Fertilizer Co Fixes Record Date For Dividend Too

Board of small cap company operating in fertilisers sector Madhya Bharat Agro Ltd on August 29 approved bonus share in the proportion of 1:1 implying shareholders will get one bonus share for every one share held as on the record date. The company on Tuesday also fixed record September 19, 2023 as the record date for dividend. Current market price of the NSE-listed company is Rs 622.00. Madhya Bharat Agro shares declined 1.66% in morning trade today. Check details below:

Madhya Bharat Agro Sets Record Date For Dividend, Approves 1:1 Bonus Share: According to the NSE filing of the company dated August 29, "We wish to inform you that the Board of Directors of the Company at its meeting held on Tuesday, 29th August, 2023, which commenced at 10:30 a.m. and concluded at 11:10 a.m. interalia, approved the following:

(a) Board of directors considered and fixed date 19th September 2023 as a Record Date (Cut-off Date) for the purpose of the payment of final dividend and ascertaining the member eligible for e- voting at Annual General Meeting.

(b) The Board considered and recommended a bonus issue in the ratio of 1:1 i.e., 1 equity share for every 1 equity share held, subject to approval by the shareholders and any other applicable statutory and regulatory approvals. Further, the bonus shares will be credited to those shareholders who are holding the equity shares as on a record date to be determined by the Board. The details pertaining to the Bonus issue of equity shares is provided in the Annexure C attached herewith.

(c) Board of directors considered and approved increase in Authorised Capital from Rs. 50 Crores to Rs. 110 Crores and corresponding amendments to the Clause V of the Memorandum of Association of the company subject to approval by the shareholders.

Madhya Bharat Agro Stock Performance & Return: Current market price of Madhya Bharat Agro share is Rs 622.00 apiece. Its 52-week high price is Rs 694.70 apiece and 52-week low price is Rs 38550 apiece, respectively. The company has a market capitalisation of Rs 2,72,519.78 crore. Madhya Bharat Agro shares offered 54% in last 1-year and surged 1717% in last 3-years. In last 5-years, Madhya Bharat Agro shares rallied 2371.21%.

Madhya Bharat Agro Financials: The company for the quarter ended June 30, 2023 declared standalone total income at Rs 150.09 crore, down 36.13% as compared to its last quarter total income of Rs 234.98 crore. The company in its recent quarter announced its net profit after tax at Rs 7.24 crore.

Madhya Bharat Agro About: Madhya Bharat Agro is engaged in the manufacturing of fertilizers and chemicals. The company operates via two segments namely Manufacturing of Fertilizers and Manufacturing of Chemical.

Disclaimer: The stock just highlights the dividend, bonus issue and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for ay losses. Please consult a professional advisor.