Shivalik Bimetal Controls board recommends 1:2 bonus issue

The company's board on Monday (29 August 2022) approved issuing one bonus equity share for each share for every two equity shares held by the shareholders.

The record date for the bonus issue will be fixed in due course, Shivalik Bimetal Controls said in a statement.

Further, the board also approved the re-appointment of S.S. Sandhu, chairman & whole time director, whose period of office will expire on 31 July 2023 and decided to re-appoint him for another period of five years from 1 August 2023 to 31 July 2028.

Shivalik Bimetal Controls is specialized in the joining of material through various methods such as diffusion bonding / cladding, electron beam welding, solder reflow and resistance welding. It offers precision manufactured components specific to the application requirements.

On a consolidated basis, net profit of Shivalik Bimetal Controls rose 87% to Rs 21.69 crore on 58% rise in net sales to Rs 110.78 crore in Q1 June 2022 over Q1 June 2021.

Shares of Shivalik Bimetal Controls jumped 3.74% to Rs 624.70 on Monday, 29 August 2022.

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