Stock Split: Company announces stock split with quarterly results, 1 share will be divided into 2 parts

News Topical, Digital Desk : SKM Egg Products Export (India) Ltd., an egg trading company, has announced its quarterly results. The company's biggest announcement alongside the results was a stock split, under which a ₹10 share will now be split into two shares, each with a face value of ₹5.
The announcement is intended to increase the liquidity of the shares and encourage participation from retail investors. The proposal will be implemented after shareholder approval and the relevant legal procedures.
Among the changes to share capital, the company's authorized share capital will now be ₹30 crore, or 6 crore equity shares (₹5 each), up from 3 crore shares with a face value of ₹10. The issued share capital will also double following the split.
The company reported sales, operating profit, and profit before tax (PBT) growth of 19% to 65%, respectively, in Q2. The board meeting included a discussion of future plans by the company's management team and a presentation of the auditor's report.
The company clarified that the record date will be announced after the stock split process is complete. With these actions, the company is moving toward making its shares and market participation attractive to retail investors.

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