Bonus Issue: With the month of December around the corner, Rajoo Engineers Ltd, will be in focus next week as it will turn ex-date for its second bonus issue of 2024. YTD, the company has distributed strong bonus shares, one dividend and carried share buyback as well. Rajoo Engineers is a multi-bagger of 2024, rising by almost 240%.
Rajoo Engineers Share Price:
After the market hours of November 27, Rajoo Engineers share price ended at Rs 350.90 apiece with a market cap of Rs 4,316.39 crore. The small-cap's 52-week high and low is at Rs 443.90 apiece and Rs 81.48 apiece. The stock has a high price-to-equity ratio of 175.94x, while the return on equity is about 18.59%.
YTD, the stock price zoomed by 236.82%, while in a six-month span, the upside is about 171%. At the start of 2024, Rajoo Engineers was merely at Rs 129.50 apiece on BSE.
Rajoo Engineers Bonus Issue:
The company has fixed Monday, December 02, 2024, as the Record Date for the aforesaid Bonus Issue and in this regard, Bonus Equity Shares will be issued to the Equity Shareholders, whose names appear in the Register of Members/Beneficial Owners of the Company/Depositories as on Monday, December 02, 2024.
This time, Rajoo is rewarding investors with a bonus shares ratio of 1:3, meaning, 1 (One) Equity Shares of face value of Re. 1/- each for every 3 (Three) existing Equity Shares of face value of Re. 1/- each held by the Shareholders of the Company.
This will be the second bonus issue by Rajoo Engineers in 2024. Earlier, the company rewarded investors with a bonus issue ratio of 1:1 and its ex-date was on August 8, 2024. Notably, in September 2024, the company turned ex-dividend for its final dividend of Rs 0.13 per share for FY24.
Also, the company has made a strategic leap with an Rs. 300 million investment in its Yantralaya, now upgraded with advanced 5-axis vertical multitasking machinery from Japan. This significant enhancement boosts Rajoo's production capacity by 40% while elevating precision, efficiency, and Total Quality Management (TQM) standards. This expansion enables Rajoo to meet the rising global demand for high-quality extrusion machinery with minimum human intervention during the set production and reduced dependency on manual processes.
About Rajoo Engineers:
Rajoo Engineers Limited, founded in 1986 and headquartered in Rajkot, has evolved into a prominent global player in blown films, and sheet extrusion lines. Through a dedicated focus on blown film, sheet extrusion lines, thermoformers and Extrusion Coating and Laminating Lines, the company has attained a prestigious market position. Driven by technology, Rajoo is renowned for its product innovations, world-class quality, state-of-the-art workmanship, enhanced energy efficiency, and sophisticated automation, distinguishing its offerings on a global scale.
With a presence in numerous countries and a customer base spanning over 78 nations, the company's exports have surged since its international debut in 1990.
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