Shakti Pumps to consider issuance of bonus shares on October 7; shares up 5%

The company in its filing said that the board will meet to consider the proposal for an increase in the authorised share capital of the company and alter/amend in the memorandum of association (“MOA”) of the company to such amount as may be determined by the Board of Directors, subject to the approval of shareholders of the company. 

Further, it said, the board will consider the proposal for the issue of bonus shares in the ratio of 5:1, i.e., five new fully paid-up equity shares of ₹10 each for every one existing fully paid-up equity share of ₹10 to the equity shareholders of the company, subject to the approval of shareholders of the company.

The company will also consider the proposal of appointment of Ramakrishna Sataluri as an additional cum non-executive non independent director of the company and consider and approve draft notice of postal ballot in respect of the aforesaid proposals of increase in authorised share capital, bonus issue, and appointment of non-executive non-independent director of the company, as required.

Shakti Pumps Q1 FY25 Results

It had clocked a profit after tax (PAT) of ₹1 crore in the April-June quarter of the preceding fiscal, the company said in a statement.

During the first quarter, the company's revenue from operations rose fourfold to ₹567.6 crore from ₹113.1 crore in the year-ago quarter.

As of June 2024, the company had an order book of around ₹2,000 crore, the statement said.

Shakti Pumps stock performance

The stock has soared over 388% in the past 12 months and 1,504% over the past five years.