Ramkrishna Forgings Stock Split has been approved after the board of directors meeting held on tuesday. The split of stocks would be subject to the approval of the members through a postal ballot. The approval of the stock split includes the change in Face value per equity share from ₹10 each to ₹2 each.
The company’s consolidated net profit rises 206.42% in the December 2021 quarter with a rise in sales at about 49.27% to ₹601.23 crores. The record date for the stock split has not yet been decided. The reason for the split is said to improve the liquidity of the company’s share.
Ramkrishna Forgings Stock Split and Dividend Record Date
Ramkrishna Forgings further announced an interim dividend for its shareholders priced at ₹0.50 per equity share of face value ₹10 each. The record date for dividends is 28th January 2022. The record date for the stock split is not yet decided and will be intimated in due course of time.
The company is one of the leading suppliers of forged, rolled, and machined products. The sectors it supplies the products are automotive, railways, farm equipment, bearings, oil and gas, power and construction, mining, etc in both domestic and overseas markets.
Ramkrishna Forgings Revenues increased by 51% at ₹606 crores in the December quarter compared to ₹402 crores same period last year. EBITDA increased by almost 79% YoY basis at ₹140 crores. The company aims to be debt-free by the fiscal year 2025.
Ramkrishna Forgings Ltd share price closed at ₹1010.75 with 3.20% down at BSE on tuesday.