Bonus Share News: Lorenzini Apparels Ltd has called for a significant board meeting on Monday, February 12, 2024, to discuss pivotal business matters. As shareholders eagerly await this event, the company’s recent performance has added fervor to the anticipation. Today, Lorenzini Apparels Ltd’s shares surged by 5 per cent to Rs 355.70 per share in the pre-opening session, a significant jump from its previous close of Rs 338.80. The stock also marked a fresh 52-week high of Rs 355.70 per share.
Company Key Metrics
| PE Ratio | 114 |
| ROCE | 17.1 % |
| ROE | 17.8 % |
| Promoter Holding | 62.9 % |
| Dividend Yeild | 0.00 % |
Stock Split and Bonus Share Proposal
The board will deliberate on splitting the equity shares of the company. This action necessitates an amendment to the capital clause of the memorandum of association, contingent upon shareholder approval and other requisite authorizations. Another key item on the agenda is the proposal to issue bonus shares to the equity shareholders of the company. This proposal also awaits shareholder approval.
Authorization of Share Capital Increase
The board will also contemplate increasing the authorized share capital of the company to a determined and approved amount. This decision is subject to shareholder approval.
Lorenzini’s Remarkable Growth
With a market capitalization of Rs 340 crore, Lorenzini Apparels Ltd has demonstrated remarkable growth, offering investors multibagger returns of 400 per cent in just 1 year, 4,600 per cent in 3 years, and an astounding 7,000 per cent in 5 years.
About the Company
Established in 2007, Lorenzini Apparels Ltd specializes in designing, manufacturing, and marketing ready-made garments under its “Monteil” brand. Their product range encompasses formal, semi-formal, and casual wear for both men and women, available through exclusive stores and online platforms. The company also engages third-party contractors for garment production.
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