Bharat Gears gains after board approves bonus issue proposal

24 Aug 2022 , 03:38 PM

The record date for the purpose of the bonus issue is 13 September 2022. Consequent to the bonus issue, the companys paid-up equity share capital will increase from Rs 10.23 crore (divided into 1.02 crore shares) to Rs 15.35 crore (divided into 1.53 crore shares). The company expects the transaction to be completed within 2 months from the date of board approval i.e. by 24 August 2022, subject to shareholders approval. Bharat Gears is a major global supplier of automotive gears and heat treatment furnaces. The company manufactures a wide range of ring gears and pinions, transmission gears and shafts, differential gears, gear boxes majorly for the automotive industry. Net profit of Bharat Gears declined 32.71% to Rs 4.30 crore on 11.71% rise in net sales to Rs 183.97 crore in Q1 June 2022 over Q1 June 2021.Powered by Capital Market – Live News