Sirka Paints India is a consumer durables-focused small-cap firm with a market value of 1,764 crore. Sirka Paints is a main producer of wall paint and wood coatings in India. The company has issued bonus shares in the ratio of 1:1 to its eligible shareholders, and the Board has set a record date to make this process easier.
“Subject to approval, the Board has recommended the issuance of Bonus Shares in the ratio of 1:1, i.e. one Bonus Equity Share for every one fully paid-up Equity Share of Rs.10/- held by members of the company as of the record date.” In accordance with Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Regulation 30 of the SEBI (LODR) Regulations, 2015, the company has set Wednesday, May 11, 2023, as the record date for determining whether shareholders are eligible to receive Bonus Equity Shares of Rs.1 (one) in proportion to Rs. “The Board of Directors of Sirka Paints India has approved the Stock stated in the exchange filing. 10/- each for each of one (one) existing Equity Shares of Rs.10/- each, subject to the approval of the Members, being obtained through the Extraordinary General Meeting.”
The authorized share capital has also been increased from 32 crores to 60 crores by the board. Rupee. The total number of securities proposed to be issued or the total amount for which the securities will be issued via bonus issue is 27,40,44000/-, or twenty seven crore forty-four lakh forty-four thousand. M/s. was also appointed by the firm. The company has chosen Jatin Agarwal & Associates, Practicing Company Secretaries to carry out the Secretarial Audit for the Financial Year 2022-23.
The company reported a net income of 66.18 crore in the quarter that ended in December 2022, compared to 54.56 crore in the quarter that ended in December 2021. In the third quarter of FY23, the company’s net expenses were 52.01 crore, up from 42.34 crore in the previous year, and its EBIT was 14.17 crore, up from 12.22 crore in the previous year. Sirka Paints India reported that its EPS was higher than 3.84 3.34 in Q3FY22 and that its net profit for the third quarter of FY23 was higher than 9.16 crores.
Today, Sirka Paints India shares closed at 645.00 per level on the NSE, up 0.55 percent from their previous close of 641.50. The stock had a total volume of 1,00,879 shares, compared to a volume of 34,016 shares on average over the past 20 days. The stock hit a 52-week high of 800.90 on December 14, 2022, and a 52-week low of 402.35 on May 26, 2022. In three years, the stock has gained 532.54 and 265 percent. On a year-to-date basis, the stock has gained 42.71 percent in the past year and lost 4.76 percent in 2023.
As of Q3FY23, the company stated that promoters held 67.55 percent of its stake, followed by FII and DII holdings of 5.59 percent and 4.41 percent, respectively, and public ownership of 22.45 percent. Trendline data show that promoters’ stake in Sirka Paints India remained the same at 67.55 percent in the December 22 quarter, while FIIs and FPIs increased their stake from 1.97 percent in the September 22 quarter to 5.59 percent in the December 22 quarter. The number of FII/FPI investors has increased from 8 in Q2 FY2023 to 13 in Q3 FY2023, and the number of institutional investors has decreased from 24.59 percent in Q2 FY2023 to 30.59 percent in Q3 FY2023 to 10.00 percent.
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