Captain Technocast issues 1:1 bonus shares

Captain Technocast has announced a 1:1 bonus share issuance. This means shareholders will receive one additional share for each share they own. The company plans to double its paid-up capital to ₹23.22 crore. This is the second time the company has issued bonus shares, with the last one occurring in July 2022. Currently, Captain Technocast's shares are trading at ₹584.95 each. The share price will adjust after the bonus shares are issued. A record date will be announced later to determine who qualifies for the bonus shares. The issuance will be funded through the company's free reserves. Following this change, the total number of equity shares will increase from 11,610,050 to 23,220,100, each with a face value of ₹10. Mr. Anil V. Bhalu, Managing Director of Captain Technocast, expressed excitement about the announcement. He highlighted the company's strong financial position and commitment to rewarding shareholders. The company is focused on expanding its export business in Europe and America and increasing valve production with automation technology. Captain Technocast is known for manufacturing and supplying various industrial castings, including valves, pumps, and dairy equipment. In financial year 2024, the company reported a total revenue of ₹63.56 crore and a net profit of ₹3.70 crore. Notably, the company's stock has surged by 1,659% over the last three years and 3,381% over the past five years.