Mohite Industries Limited, a well-known name in the textile industry, has announced its first-ever stock split. This significant move will make its shares more affordable for small investors and improve market liquidity.
Stock Split Details
Mohite Industries will split its equity shares in a 1:10 ratio. Each existing share with a face value of ₹10 will be divided into 10 shares with a face value of ₹1.
- Ex-Date: January 31, 2025
- Record Date: January 31, 2025
- Shareholder Approval: The stock split was approved via a postal ballot on December 21, 2024.
This initiative aligns with the company’s goal to broaden its shareholder base by attracting more retail investors.
Financial Highlights
Mohite Industries has demonstrated steady growth despite market challenges:
- Revenue Growth: The company reported ₹10.38 crore in revenue for the latest quarter, up from ₹8.83 crore in the previous quarter.
- Net Profit: It posted a net profit of ₹6.08 crore, supported by cost management and operational efficiency.
The company operates in two main segments:
- Textiles: Producing high-quality cotton yarn and gray knitted fabric.
- Hydropower Generation: Diversifying its revenue streams with sustainable energy projects.
About Mohite Industries
Founded in 1990 and based in Kolhapur, Maharashtra, Mohite Industries has earned a strong reputation for innovation in the textile sector. It leverages advanced technology to maintain quality and efficiency across its operations.
Strategic Impact of the Stock Split
The 1:10 stock split aims to:
- Improve Accessibility: Lower share prices will attract smaller investors.
- Boost Liquidity: More shares in circulation will likely increase trading activity.
- Enhance Market Appeal: The move is expected to draw a broader range of investors, particularly retail participants.
With its strong financial performance and diverse operations, Mohite Industries is well-positioned to maintain leadership in the textile and energy sectors. Investors should mark January 31, 2025, as the critical record date for this stock split.
Disclaimer: This content is for informational purposes only and does not provide investment advice.
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