The cigarette-maker had announced a 2:1 bonus issue while reporting its first quarter earnings last month. As per this, shareholders will receive two fully paid-up bonus shares of ₹2 each for every one existing fully paid-up equity share of ₹2 held.
This means that for shareholders who have 50 shares of the company as of the record date, they would receive 100 shares as part of the ratio, taking the total tally to 150 shares. The price has also adjusted accordingly in proportion to the bonus issue of shares.
The bonus issue was implemented by capitalising ₹2,079.76 lakh from the Godfrey Phillips' general reserves and / or retained earnings.
This is the company's first bonus issue, as per data available on the exchanges.
Last month, Godfrey Phillips' board also approved an increase in the authorised share capital to 50 crore from 25 crore.
Godfrey Phillips reported a 56% increase in its first quarter net profit at ₹356.3 crore from ₹228.5 crore in the previous year. Its revenue surged 36.6% to ₹1,486 crore and its earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 25.3% to ₹338 crore from ₹270 crore last year. However, the company's EBITDA margin contracted to 22.7% from 24.8% in the year-ago period.
Shares of Godfrey Phillips increased 9.1% to hit an intraday high of ₹3,720 apiece on Tuesday. The stock was up 7.2% at ₹3,656 apiece around 10.15 am. It has declined 62.1% in the past month.
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