1:10 Stock Split: Friday, December 13 Record Date; Is It Time To Buy?

Exxaro Tiles produces and sells vitrified tiles, which are mostly used for flooring applications. The company's activities can be largely classified into two product categories: Glazed Vitrified Tiles and Double Charge Vitrified Tiles. Under the "Exxaro" brand, the firm offers over 1000 designs in its product basket and primarily offers products in 6 sizes. It has a PAN India presence in 27 states within the country, and it supplies products in more than 13 countries abroad, such as Poland, the United Arab Emirates, Bosnia, etc.

Exxaro Tiles Stock Split

"Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that, the Company has fixed Friday, December 13, 2024 as the Record Date for the purpose of determining the eligibility of shareholders for sub-division/ split of existing 1 (One) Equity Share of face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 10 (Ten) Equity Shares of face value of Rs. 1/- (Rupees One Only) each fully paid up," the company said in a stock exchange filing.

Exxaro Tiles Financials

The company's net sales for the September 2024 quarter were Rs 69.90 crore, a 15.3% drop from the September 2023 quarter's Rs 82.53 crore. In Q2FY25, it recorded a net loss of Rs. 0.63 crore, a 391.34% decrease from Q2FY24's Rs. 0.22 crore. EBITDA decreased 24.1% from Rs. 8.30 crore in the September 2023 quarter to Rs. 6.30 crore in the September 2024 quarter.

Exxaro Tiles Share Price Target

"Exxaro Tiles stock price is bullish on the Daily charts with strong support at 94.63. A Daily close above resistance of 98.5 could lead to a target of 104 in the near term," said A R Ramachandran, Independent Research Analyst.

Disclaimer

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