Bonus Share News: According to Sinclairs Hotels Ltd., the company’s Board of Directors has authorised and suggested that fully paid bonus shares be issued in a 1:1 ratio from the company’s free reserves, which are made possible by earnings, subject to shareholder approval. The record date was set by the corporation to be Monday, January 29, 2024.
Post-Bonus Capital Surge
Since the post-bonus equity share capital will double to Rs 10,25,20,000, which will consist of 5,12,60,000 equity shares of Rs 2 each, the pre-bonus paid-up equity share capital as of today is Rs 5,12,60,000 divided into 2,56,30,000 equity shares of Rs 2 each.
Prior to this, Sinclairs Hotels Limited had repurchased 15,20,000 equity shares at a cost of Rs 2 apiece for Rs 200, totaling Rs 30,400,000,000. October 25, 2023, marked the completion of the share repurchase.
Sinclairs Hotels’ Eight 4-Star Locations Across India
Eight locations in India are home to 4-star Sinclairs Hotels: five are in West Bengal, one each in Ooty, Tamil Nadu, Port Blair, the Andaman Islands, and Gangtok, Sikkim. In desirable areas like Burdwan, Darjeeling, Dooars, Kalimpong, Ooty, Port Blair, Siliguri, and Gangtok, the corporation owns and runs hotels and resorts.
Blue Chip Corporate Customers of the Company: Axis Bank, Sun Pharma, Nestle, ITC, LIC, etc. Additionally, the company enjoys great working relationships with a number of travel agencies and aggregators, including MakeMyTrip, Goibibo, Thomas Cook, Sita, and others.
Market Performance Snapshot
Today, Sinclairs Hotels Ltd.’s shares fell 0.96 percent to Rs 299 a share, with a top of Rs. 309 and a low of Rs. 297.05. The stock has traded at Rs 92.53, its 52-week low, and Rs 220.85, its 52-week high. The company is valued at Rs 764 crore on the market.
Quarterly Results show that in Q2FY24 compared to Q2FY23, net profit dropped by 18.5% to Rs 1.27 crore while net sales climbed by 1.1% to Rs 8.52 crore. It reported half-yearly results showing net sales up 1.1% to Rs 26.98 crore and net profit up 33.8% to Rs 9.75 crore in H1FY24 compared to H1FY23.
Impressive Returns
The ROE and ROCE of the company’s shares are 26.7% and 34%, respectively. When compared to its 52-week low of Rs 92.53 per share, the company produced multibagger returns of more than 200 percent. Investors ought to monitor this micro-cap stock closely.
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