Sprayking Limited Announces 1:1 Bonus Share Issuance

On July 1, 2024, Sprayking Limited announced the issuance of a 1:1 bonus share (100% Bonus), marking a significant milestone in its journey of growth and investor appreciation. Established in 2005 within the agro-equipment sector, Sprayking Limited has consistently demonstrated a commitment to innovation and excellence. Its initial listing on the BSE SME platform in 2016 underscored its robust business model and growth potential, paving the way for its transition to the prestigious BSE Mainboard in 2023.

Over the years, Sprayking Limited has expanded from a single manufacturing unit to encompass multiple state-of-the-art production facilities. This expansion has been complemented by a strategic diversification of its product range, catering to the dynamic needs of the agricultural industry with high-quality equipment. Such initiatives have fortified Sprayking Limited’s market position, enabling it to deliver enduring value to its stakeholders.

Financially, Sprayking Limited has shown remarkable growth over the past three years. Consolidated revenue surged from ₹715.98 crore in FY 2022 to an impressive ₹2,101.66 crore in FY 2024. Similarly, Profit After Tax (PAT) rose substantially from ₹0.35 crore to ₹8.91 crore over the same period, reflecting the company’s robust growth trajectory and operational efficiency.

The decision to issue a 1:1 bonus share reflects Sprayking Limited’s confidence in its future prospects and commitment to enhancing shareholder value. This move effectively doubles each shareholder’s investment by providing one additional share for every share held. It stands as a testament to the unwavering support and trust of Sprayking Limited’s investors, acknowledging their integral role in the company’s success.

Commenting on this development, the Managing Director of Sprayking, Mr Hitesh Dudhagara, said, “We are thrilled to announce the 1:1 bonus issue as a token of our appreciation for the unwavering support and trust of our shareholders. This bonus issue not only demonstrates our strong financial position but also our confidence in the continued growth and future prospects of Sprayking Limited. Our Journey from incorporation in 2005 to becoming a significant player on the BSE Mainboard in 2023 has been marked by strategic expansions and consistent performance. We are committed to delivering value to our shareholders and are excited about the opportunities that lie ahead.”

He further added, “The bonus shares will be issued to all eligible shareholders as of the record date, which will be announced shortly. We remain committed to enhancing shareholder value and are confident that this bonus issue will further strengthen the bond between Sprayking Limited and its shareholders.”

On July 1, 2024, the share price of Sprayking Ltd opened at ₹40.24, touching the day’s high at ₹41.49, as of 12:22 PM on the BSE.

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