1:1 Bonus Issue, Rs 2/Share Dividend: Hotel Stock Hits Upper Circuit After Board Sets Record Date

Small cap company operating in Hotels & Resorts sector, Advani Hotels & Resorts (India) Ltd shares witnesses sharp jump of 8.26% in morning trade at 9:48 am on Monday. Earlier, the company on Saturday fixed March 20, 2024 as the record date for 1:1 bonus issue. Current market price of Advani Hotels & Resorts shares on BSE is Rs 169.40 per share. The company has a market capitalisation of Rs 782.95 crore. Advani Hotels shares gained 93% in last 6-month and offered multibagger returns of 132% in last 1-year span thus more than doubling investors wealth. Advani Hotels shares also hit upper circuit and traded fresh 52-week high on March 10, 2024. Check details below:

Advani Hotels Fixes Record Date For 1:1 Bonus Issue On March 9: According to the exchange filing of Advani Hotels dated March 9, 2024, "the Company has fixed Wednesday, March 20, 2024 as 'Record Date' for the purpose of determining the eligibility of Shareholders for the entitlement of issue of Bonus Equity Shares in the ratio of 1:1 i.e. 1 (One) new fully paid-up Equity Shares of Rs 2/- (Rupees Two only) each for every 1 (One) existing fully paid-up Equity Share of Rs 2/- (Rupees Two only) each held by them on the Record Date."

Advani Hotels Dividend In 2024: Advani Hotels also announced its Interim Dividend @ 100% i.e. Rs. 2/- (Rupees Two only) per Equity Share of face value of Rs. 2/- each for the Financial Year 2023-2024. The ex-dividend date was February 9, 2024.

Advani Hotels Financial Performance: Advani Hotels informed via its BSE filing that it registered a milestone of the highest ever revenue of INR 3,304 lakhs in Q3FY24, the highest revenue in any quarter in its operating history, registering a growth of 11% (YoY). The Q3FY24 Profit Before Tax (PBT) declared at INR 1,270 lakhs, registering a growth of 8% (YoY).

The Company is debt-free and the Liquid Fund Reserves (including Fixed Deposits) are at INR 4,812 lakhs as on December 31, 2023, after deducting a 70% Interim Dividend pay-out of INR 647 lakhs in June 2023 and after deducting cash-outflows towards capital expenditures during the ninemonth period of the current financial year, added the BSE filing of the company.

The EBITDA soared by Rs 106 lakhs as against the corresponding quarter of last year. However, the EBITDA margins fell by 1% due to strategic investments in its workforce, including hiring new talent and rewarding the existing talent pool with increments to encourage and retain valuable employees. Adavani's Profit After Tax (PAT) stood at INR 931 lakhs, up 6%.

Advani Hotels Shares Performance & Return: The 52-week high price of Advani Hotels shares on BSE is Rs 175.00 apiece and 52-week low price is Rs 66.75 apiece, respectively. Advani Hotels shares surged 93% in last 6-months, rallied 86% in last 2-years, and rose 158% in last 3-years. Advani Hotels shares jumped 141% in last 5-years. Advani Hotels stock surged 399% in last 10-years.

Advani Hotels About: Advani Hotels & Resorts (India) Limited (ADVANIHOTR) is a publicly-traded, Company incorporated in 1987, headquartered in Mumbai and is listed on the Bombay Stock Exchange and National Stock Exchange of India. It owns and operates the 'Caravela Beach Resort Goa'; an independent, 201-key, 5-Star Deluxe golf resort on the Arabian Sea, designed by the world-famous architects WATG (who designed both the 'Atlantis' resorts).

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