Jay Bharat Maruti soars after strong Q4 numbers; boards OKs 1:1 bonus issue

Jay Bharat Maruti surged 7.87% to Rs 287.05 after the company's consolidated net profit jumped 105.4% to Rs 20.17 crore in Q4 FY21 from Rs 9.82 crore in Q4 FY20.

Net sales increased 34.9% to Rs 540.98 crore in Q4 FY21 over Q4 FY20. Profit before tax in the fourth quarter stood at Rs 31.66 crore, up by 125.3% from Rs 14.05 crore reported in the same period last year.

The auto component maker reported 7.1% drop in consolidated net profit to Rs 26.23 crore on 9.6% fall in net sales to Rs 1499.07 crore in the year ended 31 March 2021 over the year ended 31 March 2020.

The company's board has recommended issuing bonus equity shares in the proportion of 1:1, i.e. one bonus equity share for every one equity share held as on record date, subject to necessary approvals.

The company would be seeking approval of the members for the aforesaid in the ensuing annual general meeting of the company and record date for determining eligible members for the aforesaid issue will be informed in due course of time.

The board has recommended a dividend of Rs 1.25 per share for the year ended 31st March 2021.

Jay Bharat Maruti manufactures sheet metal components, assemblies and sub-assembles and is a dedicated ancillary to Maruti Udyog.

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