Birla Power Solutions Ltd. a listed entity of the Rs 3,000 crore Yash Birla Group (YBG), in a Board Meeting, announced the dividend & Bonus for their shareholders.
Birla Power Solutions Ltd. has announced in the board meeting held recently, payment of dividend at the rate of 7.5 percent (i.e. Rs. 0.075 per share) for the financial year which ended March 31, 2010, on the existing paid up capital.
The Board approved, subject to the approval of the shareholders in the ensuing annual General Meeting, issue of bonus shares at the rate of one fully paid bonus share of Re. 1/- each, for every five existing shares of Re. 1/- each, by capitalizing permissible reserves standing as at March 31, 2010, to existing shareholders as per the Register of Members on a record date to be fixed by the Board.
The Board approved, subject to the approval of shareholders, increase in authorized capital from Rs. 300 crores to Rs. 425/- crores by creation of additional 125 crores equity shares of Re. 1/- each.
Announcing the results, Mr. PVR Murthy, Group Finance Director, The Yash Birla Group said,”We are very thrilled at the industry’s growth potential and the swirling rural demand. As we look ahead, we will remain focused on aggressively selling our broad range of solutions to our existing client base, attracting new users and developing innovation solutions”
About Birla Power
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Birla Power Solutions Ltd., (BPSL) was established in the year 1984 in collaboration with globally renowned Yamaha Motor Co. Japan. It was the first company to manufacture portable generators in India in 1986, the first to roll out Self Start Gensets and first to launch emission compliant generators under the brand name, Birla Ecogen. The company has launched power tillers under the brand name Birla Harit. The products are reliable, compatible, require low maintenance and running cost. Birla Power tied up with TMTL (Eicher) for manufacturing of DGs with Eicher brand of Engines.
The Company produces a wide range of generators catering to the power requirements of 500W to 40K.W with a variety of fuel options like kerosene, petrol, diesel, LPG,CNG and biogas. The product portfolio of Birla Power also includes Pump Sets, Lawn Movers, Invertors, Sprayers and Batteries. BPSL has entered into e-governance partnership with two of the major players, SRIE SAHAJ & ORION. With the enhanced Program targeting at "Reaching the Unreached”, the E- Governance partnership has already brought Birla Power Solutions Ltd as one of the leading Global Corporatism from India.
About Yash Birla Group
The Yash Birla Group is a conglomerate of over 20 diversified companies which run the gamut from established sectors like Auto & Engineering, Textiles & Chemicals and Power & Electricals to emerging sectors of today like Wellness & Lifestyle, Education & IT. Today the group has 8 listed entities in India. The group has identified sunrise industries like Education, Healthcare and Renewable Energy as focus areas for the future.