The apparel manufacturer Ceenik Exports Limited was established in 1982 and became public in 1995. The business divisions of Ceenik Exports include knitting, apparel, printing, dyeing, and finishing. Since its founding under the Companies Act of 1956, Ceenik Exports Limited has solidified its place as a prominent player in the investment market. Ceenik Exports (India) Ltd is a small-cap company in the apparel industry with a market valuation of Rs 443.31 crore. Following the company’s announcement of 1:5 bonus shares, Ceenik Exports India’s shares closed on Friday at a 5% upper circuit limit of Rs 1,323.30.

Ceenik Exports India Dividend

The Board of Directors considered and approved “Recommendation of final Dividend of 10% (Re. 1 per equity Share) to the equity shareholders of the Company for the financial year 2023-24 subject to approval of shareholders at the ensuing Annual General Meeting of Company,” said Ceenik Exports India in a stock exchange filing.

Ceenik Exports India Bonus Shares

The Board of Directors considered and approved “Issuance of fully paid -up Bonus equity shares in the ratio of 1 (one) Fully paid -up equity share for every 5 (five) fully paid -up equity shares held on record date, subject to approval of shareholders in the ensuing general Meeting of Company,” Ceenik Exports India informed stock exchanges.
6,70,000 equity shares of Rs. 10/- each amounting to Rs. 67,00,000/- is the total number of securities proposed to be issued or total amount for which the securities will be issued as a part of bonus shares.

Ceenik Exports India Financials

The company’s Q2 FY25 standalone net profit of Rs 4.28 crore was considerably higher than the Q2 F24 net profit of Rs 0.13 crore. In the second quarter of FY25, the total revenue from operations was Rs 6.48 crore, which represented an 867.16% year-on-year growth from Q2FY24. In Q2 of FY25, profit before tax was Rs 5.93 crore, a substantial rise over the Rs 0.13 crore recorded during the same time the year before.

Ceenik Exports India Share Price Target

“Ceenik Exports stock price is bullish on the Daily charts with strong support at 1200. A Daily close above resistance of 1298 could lead to a target of 1427 in the near term,” said A R Ramachandran, Independent Research Analyst.

Disclaimer

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Story first published: Saturday, November 23, 2024, 14:58 [IST]