Bonus Shares In 2025: 1:1 Bonus Issue, January 08 - Record Date; Buy In 2024?

Based in Karnal, Haryana, Padam Cotton Yarns Limited (PCYL) is a public limited company that was established on November 2, 1994, in accordance with the Companies Act of 1956. In India, PCYL is listed on the BSE. In addition to producing cotton yarn, PCYL also deals in and sells motors, pumps, and other agricultural equipment. Following the Board of Directors' announcement of the record date for 1:1 bonus shares, Padam Cotton Yarns' shares were trading at a 2% lower circuit limit on Thursday at Rs 335.55 per share, with a market capitalisation of Rs 129.96Cr Cr at about 12:15 p.m. IST.

Padam Cotton Yarns Bonus Shares Record Date

"We wish to inform you that the Company has fixed Wednesday, January 08, 2025 as the 'Record Date' for the purpose of ascertaining the eligibility of Shareholders entitled for Issuance of Bonus Equity Shares of the Company in the ratio of 1:1 i.e. One (1) Bonus Equity Share of face value of Rs. 10/- each for every (1) existing Equity Share of face value of Rs. 10/- each," said Padam Cotton Yarns in a stock exchange filing on 25th December, 2024.

"Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), this is to inform that the members of the Company at the Extraordinary General Meeting held on Wednesday, 25th December, 2024 at 12:00 p.m., at the Registered Office of the Company have approved the Issuance of Bonus Equity Shares in the ratio of 1:1 i.e. 1 (One) new fully paid up Equity Share having face value of Rs. 10/- each for every 1 (one) existing fully paid-up Equity Share having face value of Rs. 10/- each, held by the eligible Shareholders of the Company as on the Record Date i.e. Wednesday, 8 January, 2024, subject to other statutory/regulatory approvals, consents, permissions, conditions, and sanctions, as required," Padam Cotton Yarns said in a regulatory filing.

Padam Cotton Yarns Bonus Shares Allotment Date

The estimated date by which such bonus shares would be credited/dispatched is on or before January 26, 2025 subject to obtaining the shareholders' approval and other Statutory/Regulatory approvals, as may be necessary, the bonus shares shall be credited to the respective demat account of the eligible shareholders, according to the company.

3873000 equity shares having a face value of Rs. 10/- each is the total number of securities proposed to be issued as a part of bonus shares. The company's pre-bonus paid-up share capital is 3873000 equity shares of face value of Rs. 10/- each aggregating to Rs. 3,87,30,000/- whereas post-bonus paid-up share capital is 7746000 equity shares of face value of Rs. 10/- each aggregating to Rs. 7,74,60,000/-.

Padam Cotton Yarns Financials

Padam Cotton Yarns' net profit climbed 32300.00% to Rs 3.24 crore in the September 2024 quarter from Rs 0.01 crore in the September 2023 quarter. Both the previous quarter, which ended in September 2023, and the quarter that ended in September 2024 had no sales recorded. However, the company's revenues for the quarter that ended in March 2024 were Rs 0.01 Cr. In Q2FY24, the company's net income was Rs 0.07 Cr, whereas in Q2FY25, it was Rs 4.34 Cr. In the September 2024 quarter, the firm declared a profit before tax of Rs 4.20 Cr, up from Rs 0.01 Cr in the September 2023 quarter, as per the data available on BSE.

Padam Cotton Yarns Share Price Target

"Padam Cotton Yarns stock price is bearish & overbought on the Daily charts with strong resistance at 349. A Daily close below support of 320 could lead to a target of 289 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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