[ad_1]
The market capitalization of Motherson Sumi Wiring India Ltd. (MSWIL), a large cap firm in the consumer discretionary sector, is ₹25,579 crore. One of the largest producers of automobile components in the world is Motherson. Motherson Sumi Wiring India Ltd. (MSWIL) reported that its board of directors has proposed issuing bonus equity shares in the ratio of 2:5, or issuing 2 bonus shares for every 5 shares held as of the record date, at the meeting held on September 30, 2022.
The company has said today in a stock exchange filing that “This is with reference to our letter dated September 30, 2022 in respect of recommendation made by the Board of Directors of the Company for issue of bonus shares to the shareholders in the ratio of (2) two bonus equity shares against 5 (five) existing equity shares, subject to the approval of the shareholders of the Company. Further, the shareholders of the Company have approved aforesaid issue of bonus shares by passing an Ordinary Resolution by means of Postal Ballot, result of which have been declared by the Company today.i.e. November 5, 2022. Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has fixed Thursday, November 17, 2022 as ‘Record Date for the purpose ascertaining the eligibility of shareholders entitled for issuance of bonus shares by the Company.”
In Q2FY23, the company reported net revenue from operations of ₹1,835.21 Cr compared to ₹1,399.96 Cr in Q2FY22 and ₹1,670.94 Cr in Q1FY23, representing a YoY growth of 31% and QoQ growth of 9.83%. The company reported an EBITDA of ₹190 Cr in Q2FY23 compared to ₹194 Cr in Q2FY22, representing a YoY fall of 2%. The company reported a net profit of ₹116 Cr in Q2FY23, compared to ₹133 Cr in Q2FY22 and ₹125 Cr in Q1FY23, representing a YoY fall of 12% and a QoQ fall of 7%.
The shares of Motherson Sumi Wiring India closed on the NSE on Friday at ₹81.10 apiece, down by 0.18% from the previous close of ₹81.25. During its last trading session, the stock recorded a total volume of 5,898,557 shares compared to the 20-Day average volume of 3,040,396 shares. On a YTD basis, the stock has gained 30.91% so far in 2022.
Download The Mint News App to get Daily Market Updates.
[ad_2]
(This story has not been checked by Kashmir Bulletin and is auto-generated from other sources)
Source link
