IOL Chemicals & Pharmaceuticals has announced its first-ever stock split. The company’s board has approved the stock split, which aims to make its shares more affordable and attract a wider range of investors. This move is expected to increase investor participation and improve liquidity in the market, as stated in the company’s exchange filing.
IOL Chemical shares will split in a 1:5 ratio. This means that each equity share with a face value of ₹10 will be divided into 5 equity shares with a face value of ₹2 each, fully paid up. IOL Chemicals has informed that the stock split will be completed within 2 months from the date of approval by the company’s shareholders.
The company also disclosed that the record date for determining eligibility for the stock split will be communicated at a later time.
During Q2 FY25, IOL Chemical reported a profit after tax (PAT) of ₹19.15 crore in Q2 FY25, down 49% from ₹37.79 crore. Total income for Q2FY25 was ₹ 532.18 crore, compared to ₹552.41 crore in Q2 FY24. Earnings before interest, tax, depreciation and amortisation (EBITDA) in Q2FY25 stood at ₹47.99 crore, down from ₹71.21 crore in the same period last year.
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Published on: Dec 30, 2024, 8:48 AM IST
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