Shakti Pumps hit the roof as board to mull 5:1 bonus issue

Shakti Pumps (INDIA) hit an upper circuit of 5% to Rs 4,295.45 after the company said that its board scheduled to meet on Monday, 7 October 2024 to consider the issue of 5 bonus equity shares for every 1existing equity share (5:1).

The companys board plans to issue five new fully paid-up equity share of Rs 10 each for every one existing fully paid-up equity share of Rs 10 each (5:1) to equity shareholders of the company.

The board will also consider the proposal for an increase in the authorized share capital of the company and alter/amend in the memorandum of association (MOA) of the company to such amount as may be determined by the board of directors, subject to the approval of shareholders of the company.

 

Shakti Pumps (India) is a manufacturer of stainless-steel pumps & energy efficient motors. The company holds dominating position in domestic solar pumps industry with more than 35% market share in KUSUM scheme.

The company reported consolidated net profit of Rs 92.66 crore in Q1 FY25 which is steeply higher than Rs 1 crore posted in Q1 FY24. Revenue from operation zoomed 402% YoY to Rs 567.56 crore recorded in Q1 FY25.

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