Sagar Cements gains on declaring a 5-for-1 stock split

Sagar Cements rose 2.30% to Rs 1,128.90 after the company said its board approved a 5-for-1 stock split.

The company's board has approved a proposal to split equity shares from their existing face value of Rs 10 each in to the face value of Rs 2 per share.

The board has also approved for the re-appointment of Dr. S. Anand Reddy and S. Srekanth Reddy as managing director (MD) and joint managing director respectively for a further period of three years and this approval is subject to further approval of our shareholders to be obtained at their ensuing AGM.

On a consolidated basis, the company reported a sharply higher net profit of Rs 49.84 crore in Q4 FY21 as compared to Rs 1.18 crore in Q4 FY20. Net sales jumped 37.6% to Rs 417.65 crore in Q4 FY21 over Q4 FY20.

 

Sagar Cements is engaged in manufacturing clinker and ordinary portland cement (OPC).

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