(NSE: ALLCARGO) Allcargo Logistics bonus shares: Allcargo Logistics stock is flying like a rocket today. The company’s shares have seen a rise of more than 18% today. The news of the bonus came into the market and its share price reached Rs 96.20.
Today this logistics stock is trading at ex-bonus. Let us inform you that recently the Board of Directors of the company, in its meeting held on November 10, 2023, had announced the issuance of bonus shares in the ratio of 3:1. Later, the board fixed January 2, 2024 as the record date for finalizing the list of shareholders eligible for bonus issuance. Let us tell you that the shareholders of the company will get 3 shares of the company as a bonus for every share.
Allcargo Logistics Bonus Shares in the ratio of 3:1
“Considering the outcome of the Board meeting held on November 10, 2023, and per Regulation 42 of the SEBI Regulations, 2015 (“Listing”), the logistics company said while informing the eligible shareholders about the record date of issue of bonus shares. Regulations”), bonus shares will be issued in the ratio of 3:1 on January 2, 2024.
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Bonus Share Details
Per the approved decision, the company will capitalize a sum not exceeding ₹147,41,73,144/- (Rupees One Hundred Forty-Seven Crores Forty-One Lakhs Seventy-Three Thousand One Hundred Forty-Four only) from the Free Reserves of the Company, as per the audited financial statements for the fiscal year ended March 31, 2023.
Utilization of Funds
- Transfer to Share Capital Account: The capitalized amount will be transferred to the Share Capital Account as part of the company’s financial structure.
- Issuance and Allotment: The funds will be utilized for the issuance and allotment of equity shares, ensuring an effective allocation of capital.
- Bonus Share Offering: A maximum of 73,70,86,572 (Seventy-Three Crores Seventy Lakhs Eighty-Six Thousand Five Hundred Seventy-Two) equity shares of ₹2/- (Two) each will be offered as fully paid-up bonus shares.
- Fully Paid-Up Shares: The bonus shares will be issued in a fully paid-up status, providing immediate ownership rights to the shareholders without any additional payment requirements.
Eligibility Criteria
- Shareholder Status: Only members of the company holding equity shares of ₹2/- (Two) each are eligible for the bonus share allotment.
- Record Date Basis: Eligibility is determined based on the members’ positions in the Register of Members/Beneficial Owners as of the “Record Date” set by the company
Bonus Share Ratio
The bonus shares will be issued in the proportion of 3:1, translating to 3 (Three) new equity shares of ₹2/- (Two) each for every 1 (One) existing equity share of ₹2/- (Two) each held as on the Record Date.
Treatment of Bonus Shares
It is emphasized that the new bonus shares once issued and allotted, shall be considered an increase in the nominal amount of the equity share capital of the Company held by each respective member. This measure aims to enhance shareholder value and reflects the company’s commitment to rewarding its stakeholders.
About Allcargo Logistics Ltd
Allcargo Logistics Limited, headquartered in Mumbai, India, is a prominent logistics company founded by Shashi Kiran Shetty on August 18, 1993. The company is recognized for providing comprehensive multi-modal integrated logistics and transportation services on a global scale. As of 2023, Allcargo Logistics Limited boasts a workforce of 739 employees and has achieved a revenue of 20,072 crores INR (equivalent to US$2.5 billion).
Allcargo Logistics Ltd – Fundamental Analysis
| Market Cap | ₹ 2,200.20 Cr. |
|---|---|
| Enterprise Value | ₹ 2,313.77 Cr. |
| Number of Shares | 24.57 Cr. |
| P/E (Price/Earnings) | 7.51 |
| P/B (Price/Book) | 1.77 |
| Face Value | ₹ 2 |
| Dividend Yield | 0.98% |
| Book Value (TTM) | ₹ 50.56 |
| Cash | ₹ 82.40 Cr. |
| Debt | ₹ 195.97 Cr. |
| Promoter Holding | 69.92% |
| EPS (TTM) | ₹ 11.92 |
| Sales Growth | -5.46% |
| ROE (Return on Equity) | 13.75% |
| ROCE (Return on Capital Employed) | 14.47% |
| Profit Growth | -9.69% |
Should You Invest In Allcargo Logistics Limited Shares?
Allcargo Logistics Ltd. is a global leader providing comprehensive integrated logistics solutions.
Limitations:
- The company has demonstrated a subpar profit growth rate of -2.67% over the past 3 years.
- Allcargo Logistics Ltd. reports contingent liabilities amounting to ₹406.47 Cr.
- The company’s current valuation is reflected in a relatively high Price/Earnings (PE) ratio of 7.51.
Strengths:
- Allcargo Logistics Ltd. has exhibited robust revenue growth, achieving a commendable rate of 18.90% over the past 3 years.
- There is a noteworthy reduction in the company’s debt, indicating a positive financial trend with a decrease of ₹546.87 Cr.
- The Interest Coverage Ratio stands at a healthy 13.26, indicating the company’s ability to meet its interest obligations comfortably.
- Allcargo Logistics Ltd. demonstrates operational efficiency with a Cash Conversion Cycle of 63.60 days.
- The company boasts a substantial promoter holding of 69.92%, reflecting a strong commitment from key stakeholders.
Conclusion
This article serves as a comprehensive guide to the Allcargo Logistics Limited Share Price.
The information and forecasts are derived from our analysis, research, company fundamentals, historical data, experiences, and various technical analyses. The article delves into the share’s prospects and growth potential in detail.
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Disclaimer:
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This study does not consider any uncertainties regarding the company’s future or the current market conditions. While this information is for informational purposes, we disclaim any responsibility for potential financial losses incurred based on the information provided on this site. We aim to offer timely updates about the stock market and financial products to assist you in making informed investment decisions. It is crucial to conduct your research before making any investment decisions.