Bonus Share News: Bharat Seats Limited, a promoted company of India's largest passenger car manufacturer Maruti Suzuki India Limited, has announced the issuance of bonus shares to its shareholders. Bharat Seats will issue one bonus share for every 1 share held by its shareholders as per the record date. However, the company has not yet announced the record date for issuing bonus shares.

Now the board will fix the record date. The company has informed in the exchange filing that the issuance of bonus shares is subject to shareholders and other regulatory approvals.

Bonus shares for the first time in 17
years Bharat Seats has announced bonus shares for investors for the first time in 17 years. The last time this happened was in 2007, when the company issued one free share for every share held. Bharat Seats Limited also released its September quarter results on Tuesday. The company said that its net profit remained stable at Rs 7 crore. Company results In the second quarter of the current financial year, the company has recorded 1.7 percent more earnings than last year. With this increase, the company's earnings have increased to Rs 291 crore. Talking about EBITDA, the company has also registered an increase in that. On an annual basis, the company's EBITDA has increased by 4.7%, which has increased to Rs 17.8 crore. Talking about the company's EBITDA margin, there has been no change in it, it remains flat at 6%. Bharat Seats has classified Maruti Suzuki India as a promoter as per its shareholding pattern for the quarter ended September. India's largest passenger car manufacturer holds a 14.81% stake in Bharat Seats, along with Suzuki Motor Corporation. Another listed company, NDR Auto Components, is also classified as a promoter by Bharat Seats. At the end of the September quarter, NDR Auto Components held a 28.66% stake in the company. Bharat Seats is engaged in the manufacture of seating systems for Indian Railways as well as seating systems, NVH components and body ceiling parts for four-wheelers and two-wheelers. Bharat Seats shares hit an intraday high after the bonus issue announcement, currently trading 2.9% higher at Rs 212. The stock is up 30% so far in 2024.