Bhandari Hosiery Exports Ltd Share Price – NSE  /  BSE

Textiles, Small Cap

The committee has approved issue of 7,66,11,591 equity shares at an issue price of Rs 6.26/- per equity share (including premium of Rs 5.26 per equity share) for an amount aggregating up to Rs 47.96 crore to all the existing equity shareholders of the company on a rights basis in the ratio of 15 shares for every 32 shares held in the company.

The rights issue will open on 8 July 2024, last date for on market renunciation of the rights entitlements is fixed on 16 July 2024 and issue will close on 22nd July 2024.

Bhandari Hosiery Exports is engaged in manufacture of knitted fabrics Kora and dyed and is also in the manufacture and export of knitted hosiery garments such as T-Shirts, Pullovers, Sweat Shirts, Bermudas, Polo Shirts, Track Suits, Pajamas, Lowers, Ladies Knitted Tops with embroidery and prints etc. and manufacture, processing and trading of dyed and non-dyed fabrics at domestic and international levels. The Company confirms to International standards in Human Recourses Practices and adopts Eco-friendly standards in production.

The company reported a 4.48% rise in net profit of Rs 1.63 crore despite of 19.53% decrease in 88.83 crore in Q4 FY24 over Q4 FY23.

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Bhandari Hosiery Exports announced that the Board of Directors of the Company at its meeting held on 28 May 2024, inter alia, have recommended the final dividend of Rs 0.01 per equity Share (i.e. 1%) , subject to the approval of the shareholders.

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Net profit of Bhandari Hosiery Exports rose 4.46% to Rs 1.64 crore in the quarter ended March 2024 as against Rs 1.57 crore during the previous quarter ended March 2023. Sales declined 19.55% to Rs 88.83 crore in the quarter ended March 2024 as against Rs 110.41 crore during the previous quarter ended March 2023.

For the full year,net profit rose 0.31% to Rs 6.53 crore in the year ended March 2024 as against Rs 6.51 crore during the previous year ended March 2023. Sales declined 5.83% to Rs 266.73 crore in the year ended March 2024 as against Rs 283.23 crore during the previous year ended March 2023.

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Bhandari Hosiery Exports will hold a meeting of the Board of Directors of the Company on 28 May 2024

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