Thangamayil Jewellery announces a 1:1 bonus on every share held by its shareholders

At a recent board meeting, the company has recommended a total dividend of Rs 12 per equity share of Rs 10 each, amounting to Rs 13.72 crore in total

Madurai Thangamayil Jewellery Limited, in a recent board meeting, recommended a bonus share issue in the ratio of one share for every share held by the shareholders amounting to Rs 13.72 crore as fully paid bonus shares credited out of accumulated reserves. The company is currently operating in southern and western parts of Tamil Nadu with 54 retail outlets slated to expand its operations to Chennai and adjoining towns in 2023-24, apart from the planned relaunch of five of the existing retail outlets.

In the last five years, it has obtained a CAGR (compounded annual growth rate) of 18.82% in turnover and 27.40% in PAT (profit after tax). The board meeting was held to consider audited financials for the year ended March 31, 2023. The board has recommended a total dividend of Rs 12 per equity share of Rs 10 each amounting to 120% (both interim – Rs 6 and final Rs 6).

It has earned a profit after taxes of Rs 7,975 lakh on a turnover of Rs 3152.55 crore as against a profit after tax of Rs 3,855 lakh on a turnover of Rs 2,193.07 crore. The performance resulted in 44% growth in turnover and 107% growth in PAT. It reported an EPS (earning per share) of Rs 58.13 as against Rs 28.09, registering an increase of 107% for the year ended 31st March 2023, according to a statement from the company.

Courtesy: TOI