Hardwyn India shares: After 52% jump in 5 days, this multibagger stock will turn ex-split, ex-bonus today

Shares of multibagger Hardwyn India, which rallied 52 per cent in the last five sessions, will turn ex-date for stock split and share bonus on Monday. The stock has climbed 83 per cent in 2023 so far and a solid 276 per cent return in the last one year.

Hardwyn India shares would turn ex-bonus in 1:3 ratio. It means if an eligible investor has 1 share as of record date, which is today,  he would be entitled to two new shares. Total holding of share would now be three instead of one. Here new shares are issued at existing face value. What a bonus does is increase number of shares outstanding. It decreases earnings per share, reduce share price in proportion to number of bonus shares issued,  reduce free reserve & surplus, but increase liquidity on the counter.

To recall, Hardwyn India had in June 2022 announced bonus issue in the 1:2 ratio.

Hardwyn India, meanwhile, would also turn ex-date for stock split today from face value of Rs 10 per share to face value of Re 1 per share. A stock split improves liquidity on the counter.

Hardwyn India is a manufacturers of architectural hardware and glass fittings. It offers solutions for both residential and commercial structures. The company’s products include door hardware, kitchen hardware, glass hardware and furniture hardware.

The company recently reported a 125 per cent rise on a year-on-year (YoY) in the net profit at Rs 3.74 crore for the March quarter. This was against a profit stood of Rs 1.66 crore in the same quarter last year. However, revenue from operations fell 11 per cent to Rs 29.88 crore in the March quarter against Rs 33.15 crore in the corresponding quarter last year.

The stock settled 19.90 per cent higher at Rs 623.35 on Friday.

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