The financial results for the quarter that ended on September 30, 2024, as well as the issuance of bonus shares, were released by Hardwyn India Limited, an Indian firm that produces and sells architectural hardware and glass fittings.
Hardwyn India’s net profit improved 172.97% to Rs 4.04 crore in the September 2024 quarter from Rs 1.48 crore in the September 2023 quarter. In the quarter that ended in September 2024, sales increased 61.71% to Rs 51.65 crore, up from Rs 31.94 crore in the quarter that ended in September 2023.
The Board of Directors of the company at their meeting held on 14th November 2024 considered and approved “Issue of 13,95,52,587 (Thirteen Crore Ninety Five lakh Fifty Two Thousand Five Hundred Eighty Seven) Bonus equity shares in the ratio of 02:05 i.e. 02(Two) fully paid-up equity share for every 05 (Five) existing equity share having face value of Rs. 1/- (Rupees One only) each, held by the members of the Company as on Record Date, subject to necessary approvals as may be required.”
The Board also approved “Increase in authorized share capital of the company from Rs. 35,10,00,000/- (Rupees Thirty Five Crores Ten lakh only) consisting of 35,10,00,000 (Thirty Five Crores Ten lakh only) to Rs.50,00,00,000/- (Rupees Fifty Crores only) consisting of 50,00,00,000/- (Fifty Crores only) Equity Shares having face value of Rs. 1/- (One only) each ranking pari – passu in all respect with the existing Equity Shares of the Company,” said Hardwyn India in a stock exchange filing.
In order to create wealth for its shareholders, Hardwyn India Ltd. took a number of corporate activities last year. Additionally, a 1:3 bonus issue and a 10:1 stock split for equity stockholders were made by the company. The specified record date of June 5, 2023, served as the basis for both actions.
Glass fittings and architectural hardware are produced by Hardwyn India Limited, an Indian company. Architectural hardware and glass fittings, kitchen hardware, accessories, and appliances are the products of Hardwyn India’s wholesale and retail company. Hardwyn India Ltd. On October 12, 2017, Hardwyn India Limited was first established as a Limited Company under the name Garv Industries Limited.
