Jindal Worldwide Limited announces bonus share issue

Textiles business Jindal Worldwide Limited has announced its decision to reward its shareholders with a bonus equity share issue at a ratio of four to one with the aim of increasing value for its stakeholders and enhancing its market liquidity.

“This bonus issue is our way of thanking our shareholders for their continued trust and support,” said a spokesperson for Jindal Worldwide Limited, the Press Trust of India reported. “Over the past 30 years, we have grown from strength to strength, embracing innovation and excellence. This step reinforces our vision to create long-term value for all stakeholders.”

The business’ board of directors decided to give its shareholders four fully paid-up equity shares of Rs 1 each for each existing fully paid-up equity share of Rs 1 that they as on the record date, which it will announce soon. The bonus shares will be issued by capitalising the business’ free reserves and/ or its securities premium account.

Jindal Worldwide Limited reported a revenue total of Rs 567.59 crore for the second quarter of the 2024 financial year,up from Rs 520.43 crore in the first quarter of the same fiscal year. The business’ net profit remained stable with a total of Rs 17.47 crore for the second quarter of the 2024 financial year,building on profits of Rs 17.43 crore for the year’s first quarter. 

The business’ earnings per share stood at Rs 3.49 in the 2024 financial year with cash earnings per share at Rs 4.53. Jindal Worldwide Limited’s operating profit margin was at 8% in the 2024 fiscal year and its net profit margin was at 3.77%.