with market value 1,202.62 crore, Precision Wires India Limited is a Small-cap business serving the Industrial industry. Precision Wires India Limited (PWIL), established in 1989 by Atlas Wires Limited (Atlas) and Mahendra Mehta and family, is the largest manufacturer of winding wires in South Asia with an installed capacity of approximately 40000 MT/yr. The Board of Directors in its meeting held today has fixed the record date for determining the eligibility of shareholders for the purpose of 1:2 bonus shares.
The company said in a stock exchange filing today that “Pursuant to Regulation 42 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that Thursday, December 22, 2022 has been scheduled Record Date, for the purpose of ascertaining the eligibility of the shareholders for issue of Bonus Equity Shares of the Company in the ratio of 1 (one) new fully paid up Equity Shares of Rs.1/- every 2 (two) Fully paid-up existing Equity Shares of Rs.1/- each held, subject to the approval of the Members being obtained through postal ballot through remote e-voting. Result of Postal Ballot Wednesday, Will be announced on December 14, 2022.”
In Q2FY23, the company reported a net sales of 721.31 crore as against 706.64 Cr in Q2FY22, representing a YoY gain of 2.07%. Company reported total expenses 706.38 crore in the quarter ending September 2022 as compared to Rs. 688.11 crore in the year-ago quarter. In Q2FY23, the firm posted Profit Before Tax (PBT) 19.60 crores, down from 20.73 Cr 5.45% YoY in Q2FY22. In Q2FY23, the firm reported a net profit of 14.66 crores, down from 14.97 crore in Q2FY22 and a YoY decline of 2.07%. In Q2FY23, EPS was 1.27 per share, down from 1.29 in Q2FY22.
The pre-bonus share capital is 11,56,36,230 and the post-bonus share capital will be 17,34,54,345. A total of 5,78,18,115 Equity Shares are proposed to be issued as Bonus Securities. The estimated date on which these bonus shares will be credited or distributed is within two months of the approval of the Board meeting or by January 9, 2023. Shares of Precision Wires India Limited today at Rs. 103 per share, Rs. 1.98% from the previous close of Rs. 101 each. In the trade today the stock registered a total volume of 258,596 shares as compared to 20-day average volume of 410,413 shares. The stock has given multibagger return of 133.08% in last five years while the scrip has given multibagger return of 235.61% during last three years. The stock has appreciated 73.40% over the past year, and it is slated to climb 43.75% YTD in 2022.
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