Filatex Fashions board OKs 1:5 stock split
Filatex Fashions on Friday (7 June 2024) announced that its board has approved 5-for-1 stock split.
The company's board approved the sub-division of existing one equity share having a face value of Rs 5 each fully paid up into five equity shares of Rs 1 each fully paid-up.
The record date for the subdivision of equity shares will be intimated to the exchanges subsequently, after the approval of the resolution for sub-division by the shareholders.
The rationale behind the split is to enhance the liquidity in the capital market and to widen shareholder base, said the firm.
The sub-division is expected to be completed within 3 months from the date of shareholders approval, it added.
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Filatex Fashions the principal activity of the company is to manufacture Socks.
The companys consolidated net profit declined 30.2% to Rs 2.57 crore in Q4 FY24 as against with Rs 3.68 crore posted in Q4 FY23. Net sales stood at Rs 67.01 crore, registering a growth of 64.2% year on year.
The scrip slipped 2.29% to end at Rs 10.65 on the Friday, 7 June 2024.
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First Published: Jun 08 2024 | 4:56 PM IST