JBM Auto on Wednesday announced that the company's board in meeting held today has approved stock split.
The company's board approved the proposal of sub-division of Equity Share having face value of Rs 5 each fully paid up into equity shares having face value of Rs 2 each fully paid up at the record date to be determined. The stock split is subject to approval of shareholders through postal ballot.The company expects completion of stock split approximately 3 months from the approval.
JBM Auto is the flagship company of the JBM Group. The group has a diversified portfolio with presence in multiple domains such as auto components & systems, buses & electric vehicles, EV charging infrastructure, renewables, environment management and EV aggregates.
On a consolidated basis, JBM Auto posted a 23.5% rise in net profit to Rs 25.30 crore on 45.5% increase in net sales to Rs 752.72 crore in Q2 FY22 over Q2 FY21.
Shares of JBM Auto were trading 0.42% lower at Rs 1,101.70 on BSE.
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