The shares of penny stock Gujarat Toolroom today slid 5% to hit their lower circuit at Rs 2.34 on the BSE in intraday trade after the company witnessed a sharp decline of 90% year-on-year (YoY) in its net profit for Q3FY25 to Rs 1.43 crore.
The same stood at Rs 14.32 crore in the corresponding quarter of the previous financial year.
However, the company’s revenue from operations surged to Rs 230.74 crore, up from Rs 131.06 crore reported in the year-ago period, marking an increase of 76% YoY.
Additionally, the company’s board of directors also approved the allotment of 116.03 crore shares of Re 1 as fully paid bonus equity shares. The ratio of the bonus share issuance is 5:1.
This means the company will award 5 bonus shares to its eligible shareholders for each share they currently hold.
“In Continuation to our intimation dated 6 thJanuary, 2025 in respect of approval of the Board of Directors for issue of Bonus Shares, intimation dated 12th February, 2025 in respect of fixing of Record Date and intimation dated 8th February, 2025 in respect of approval of the shareholders for issue of Bonus Shares. In this regard, we further inform that the Board of Directors has, at its meeting held today i.e. Wednesday, 19th February, 2025, approved the allotment of 116,03,28,150 Equity Shares of Rs. 1/- each as fully paid bonus equity shares, to the members whose names appear in the Register of Members as on 18th February, 2025 i.e. Record Date fixed for this purpose, in the proportion of 5:1 i.e 5 (Five) Equity Share of Re 1/- each for every 1 (One) Equity ‘Shares of Re. 1/- each held,” the company said.
In this regard, the company had already fixed February 18 as the record date for determining shareholder eligibility.
The article originally appeared on The Economic Times.
