Multibagger FMCG Stock Sets Record Date For 1:1 Bonus Shares, Scrip Up 317% In 1 Year

Small-cap firm Indo Us Bio Tech Ltd operates in the FMCG industry. The company is engaged in agricultural crop research and development via breeding, seed production, processing, packaging, and selling of hybrid and open pollinated varieties.

"The Board of Directors at its meeting held on 7th July, 2023, recommended Bonus Issue of Equity Shares in the ratio of 1 new equity share of Rs. 10 each for every 1 existing equity share of Rs. 10 each held by the shareholders of the company as on the Record date subject to approval of the shareholders.

Pursuant to Section 91 of the Companies act, 2013 read with rules made there under and for the purpose of ascertaining the names of Equity shareholders entitled to Bonus Shares, the Board of Directors has fixed Friday, 25th August, 2023 as the Record Date. The Bonus Equity Shares shall be allotted to the Equity Shareholders of the company whose name appear in the Register of members of the Company or in the records of Depositories as Beneficial Owners as on record date," said Indo Us Bio Tech in a stock exchange filing.

The company reported a net income of Rs 19.17 Cr in Q1FY24 compared to Rs 18.13 Cr in Q4FY23. The company recorded net expenses of Rs 16.35 Cr in June 2023 quarter as against Rs 15.71 Cr in March 2023 quarter. Its EBIT was Rs 2.82 Cr in Q1FY24 compared to Rs 2.42 Cr in Q4FY23. Indo Us Bio Tech said its net profit was Rs 2.37 Cr in the quarter under review compared to Rs 2.10 Cr in the year-ago quarter.

On Thursday, the shares of Indo Us Bio-Tech closed on the BSE at Rs 350 apiece up by 2.04% over the previous close of Rs 343. The stock made a 52-week-high of Rs 402.80 on (10/08/2023) and a 52-week-low of Rs 84.00 on (18/08/2022), indicating that at the current market price, the stock is trading 316.66% above the 1 year low and 13.10% below the 1 year high. During Q1FY24, the company recorded promoters shareholding of 70.17% and public stake of 29.83%.