EFC's board okays 1:1 bonus issue, share capital alteration; stock up 4%

Shares of EFC surged 4.13 per cent at Rs 684.90 a piece on the BSE in Friday’s intraday trade. EFC share price rose after the company on Friday said that its board has approved bonus shares in the ratio of 1:1. 

 

“We inform that the board of directors of the company has inter‐alia considered and approved issue of bonus shares in the ratio of 1:1 i.e. one new fully paid-up equity share of Rs 2 each for every one existing fully paid-up equity share of Rs 2 each, to the eligible equity shareholders of the company as on the record date, by capitalization of securities premium received in cash or general reserve or retained earnings,” the company said in an exchange filing.

 

 

Further, the company’s board has also given its nod for an increase in the authorised share capital of the company from Rs 15 crores to Rs 25 crores and the consequent alteration to the memorandum of association.

 

The integrated office infrastructure and design company reported a 230.26 per cent growth in consolidated net profit for the quarter ended September 30, 2024. The company’s profit after tax rose to Rs 36.56 crore in Q2FY25, compared to Rs 11.07 crore in the corresponding quarter of the previous fiscal. 

 

Total consolidated income for the quarter surged 72.93 per cent to Rs 171.08 crore, up from Rs 98.93 crore in Q2FY24. Rental income contributed 54 per cent of the consolidated revenues at Rs 89.19 crore, while fit-out contracts accounted for 46 per cent at Rs 77.23 crore.

EFC share price history

EFC stock has outperformed the market in the last six months as it has risen 22 per cent, while gaining 78 per cent in the last one year. In comparison BSE Sensex has fallen 0.43 per cent in the last six months and 9.5 per cent in a year.

 

The company has a total market capitalisation of Rs 3,310.15 crore. Its shares are trading at a price to earnings multiple of 333.69 times at an earning per share of Rs 1.97. 

 

At 12:02 PM, the stock price of the company advanced by 1.11 per cent at Rs 665 a piece on the BSE. By comparison, the BSE’s Sensex was up 0.43 per cent to 78,811.37 level.

 

EFC specialises in providing fully functional office spaces with flexible leasing options, complemented by a comprehensive range of business support services and amenities. It serves as the flagship entity of the renowned EFC Group of Companies.