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Pincon Spirit Ltd has announced that its board of directors has recommended issue of bonus shares in the ratio of 1:1. A formal resolution for the issue would be placed before the shareholders for approval at the AGM on November 20.
The bonus issue is proposed from free reserves of the Indian made foreign liquor,and edible oils company.
In 2014-15, Pincon Spirit had reported revenue worth Rs 602.56 crore and a net profit of Rs 15.68 crore. Its current paid-up equity stands at Rs 10.02 crore. At 2.30 pm, the Pincon stock was trading 4.97 per cent down at Rs 187.50 on the BSE.
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