Countdown Begins To 10x The Shares: 1:10 Stock Split To Unlock On March 14; A New Entry Point?

Mehai Technology is the most well-known electronics retail supplier in eastern India. Mobile phones, computers, televisions, household appliances, and other items are all available at this full-service electronics store business. The firm was founded on December 13, 2013, as a private limited company under the Companies Act of 1956. On June 29, 2017, it changed its name to "Mehai Technology Limited" in order to become a public limited company. With a market value of Rs 333.96Cr, Mehai Technology's shares ended Wednesday's trading session 1.99% lower on the BSE at Rs 135.15 per share, following the Board's announcement of the record date for a 1:10 stock split.

Mehai Technology Stock Split

"In furtherance to our earlier communication dated February 24, 2025, intimating the Record Date for Subdivision/Split of face value of Equity Shares of Mehai Technology Limited ("the Company") and pursuant to approval by the Shareholders of the Company through EGM held on February 22, 2025, we inform you that National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL) have assigned a new ISIN: INE062Y01020 for Equity Share of face value of Re. 1/- (Rupee One Only) each fully paid-up. The above mentioned ISIN will be effective from Friday, March 14 , 2025 ("Record Date"). In compliance with Regulation 30 and other applicable provisions of the Listing Regulations, please find enclosed herewith the activation letters received from NSDL and CDSL for the above mentioned ISIN," said Mehai Technology in a stock exchange filing.

New ISIN Activation of Mehai Technology

"We are pleased to inform you that your ISIN - INE062Y01020 - Equity Shares with Face value Rs.1/- (sub-division) has been made live in the CDSL system on 06February-2025 Should you require any further information or clarifications, please feel free to contact the Ms. Rupali Bhovar / Ms. Rensi Nadar / Ms. Vinifer Kodia on [phone] or [phone] or [phone] or e-mail us on [e-mail] or [e-mail] or [e-mail]," Mehai Technology informed stock exchanges.

Mehai Technology Q3 Financial Records

The company's net sales for the December 2024 quarter totalled Rs 55.07 crore, growing 1036.83% from the December 2023 quarter's Rs 4.84 crore. Its net profit for the quarter ending in December 2024 amounted to Rs. 5.46 crore, jumping 101190.74% from Rs. 0.01 crore for the quarter ending in December 2023. From Rs. 0.43 crore in Q3FY24 to Rs. 8.70 crore in Q3FY25, EBITDA grew by 1923.26%.

Mehai Technology Share Price Target

"Mehai Technology stock price is slightly bearish on the Daily charts with strong resistance at 141. A Daily close below support of 130 could lead to a target of 105 in the near term," suggested A R Ramachandran, Independent Research Analyst.

Disclaimer

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