 "Relaxo Footwears hits record high on 1:1 bonus issue")
Relaxo Footwears has rallied 12% to Rs 793, also its record high on the BSE, in early morning trade after the board recommended issue of bonus shares in the ratio of 1:1 i.e. one share for every share held.
The board of directors of the footwear maker has also recommended a dividend at the rate of Re 1 per share (100%) of face value of Re 1 each, Relaxo Footwear said in a filing.
Meanwhile, the company’s standalone net profit nearly doubles at Rs 42.68 crore in March 2015 quarter against Rs 21.83 crore in previous year quarter. Net sales grew 18% at Rs 438 crore from Rs 371 crore over the previous year quarter.
EBITDA margins improved by nearly 400 basis points to 16.15% in March 2015 quarter from 12.21% in a year ago quarter.
A combined around 2,000 shares changed hands on the counter on the BSE and NSE.
At 0917 hours, the stock was up 7.5% at Rs 761 on the BSE.
The board of directors of the footwear maker has also recommended a dividend at the rate of Re 1 per share (100%) of face value of Re 1 each, Relaxo Footwear said in a filing.
Meanwhile, the company’s standalone net profit nearly doubles at Rs 42.68 crore in March 2015 quarter against Rs 21.83 crore in previous year quarter. Net sales grew 18% at Rs 438 crore from Rs 371 crore over the previous year quarter.
EBITDA margins improved by nearly 400 basis points to 16.15% in March 2015 quarter from 12.21% in a year ago quarter.
A combined around 2,000 shares changed hands on the counter on the BSE and NSE.
At 0917 hours, the stock was up 7.5% at Rs 761 on the BSE.