Transformers and Rectifiers, on Wednesday, said that its board has approved a 1:1 bonus share, which means that investors will get one additional share for every share. However, the record date for the issue of bonus shares is yet to be declared.
“Issue of Bonus Equity Shares in the proportion of 1:1 i.e. 1 (One) Bonus Equity Share of Re. 1/- (Rupee One) each for every 1 (One) existing Equity Share of Re. 1/- (Rupee One) each fully paid up, held by the shareholders of the Company as on the record date, subject to the approval of shareholders,” the firm said in an exchange filing.
Transformers and Rectifiers stock surged nearly 5 per cent to record high to ₹1,300 per share on Bombay Stock Exchange (BSE). The stock has zoomed 18 per cent in the last one month.
The company announced the issuance of bonus shares along with the quarterly results ending on December 31, 2024 and fund raising proposal.
This is the first time since 2013 the company announced a bonus issue of shares. In 2013, the company had issued one bonus share for every nine shares held by its shareholders.
The board also approved the proposal to raise ₹750 crore by selling shares to eligible institutions through the Qualified Institutional Placement route.
“Issuance of Equity Shares through Qualified Institutional Placement (QIP) for an amount not exceeding Rs. 750 Crores (Rupees Seven Hundred Fifty Crores), subject to the approval of shareholders,” the firm added.
Transformers and Rectifiers Q3 FY25 results
For the December quarter, Transformers and Rectifiers posted 252 per cent rise in its a net profit at ₹55 crore, against ₹15.6 crore in the same period last year. The profit growth was partly driven by a ₹7 crore rise in other income.
Quarterly revenue grew by 51.5 per cent year-on-year, reaching ₹559.4 crore.
The company’s EBITDA rose to ₹84.8 crore from ₹35.6 crore in the previous year, with the EBITDA margin improving to 15.2 per cent from 9.6 per cent.
In Q3, EBITDA rose to ₹77.9 crore compared to ₹34.3 crore in the December 2023 quarter. The EBITDA margin improved to 14.29 per cent in Q3, up from 9.38 per cent year-on-year.
