Motherson Sumi Wiring to trade ex-bonus next week for 2:5 bonus share issue

Market


Bonus shares 2022: Shares of Motherson Sumi Wiring India Ltd is going to trade ex-bonus next week as board of director of the small-cap company has fixed 17th November record date for issuance of bonus shares. Bonus shares will be issued on ex-date basis, which means the small-cap stock with a market cap of 26,227 crore would trade ex-bonus on 16th November 2022 i.e. on Wednesday next week.

The board of this small-cap company has already approved and declared bonus shares in 2:5 ratio that means two bonus shares will be awarded to the shareholders of the company for holding five shares of the company on record date of bonus shares.

Informing Indian stock market exchanges about bonus share record date, Motherson Sumi Wiring India Ltd said, “This is with reference to our letter dated September 30, 2022 in respect of recommendation made by the Board of Directors of the Company for issue of bonus shares to the shareholders in the ratio of (2) two bonus equity shares against 5 (five) existing equity shares, subject to the approval of the shareholders of the Company. Further, the shareholders of the Company have approved aforesaid issue of bonus shares by passing an Ordinary Resolution by means of Postal Ballot, result of which have been declared by the Company today i.e. November 5, 2022. Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Thursday, November 17, 2022 as ‘Record Date for the purpose ascertaining the eligibility of shareholders entitled for issuance of bonus shares by the Company.”

In September 2022 quarter, the bonus paying company has reported net revenue from operations at 1,835.21 crore, logging year-on-year (YoY) growth to the tune of 31 per cent against 1,399.96 crore in Q2FY22. The small-cap company posted QoQ growth of 9.83 per cent on net revenue from operations front as its net revenue from operations stood at 1,670.94 crore in Q1FY23. However, company’s EBITDA fell around 2 per cent YoY as its Q2FY23 EBIDTA stood at 190 crore against 194 crore in Q2FY22.

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