Investors in DRC Systems India Limited are in for a pleasant surprise as the software development company announces a bonus issue of shares. The bonus shares, issued in a ratio of 2:1, provide shareholders with an opportunity to receive two new equity shares for every existing equity share of Rs 1 each. While this move increases the number of outstanding shares in the market, it’s important to note that it doesn’t directly impact the overall value.
DRC Systems Bonus Shares Announcement
DRC Systems aims to enhance its equity base and foster retail participation through the issuance of bonus shares. The company has disclosed crucial details, including the record date and bonus ratio, ensuring transparency for investors.
DRC Systems Bonus Shares Record Date, Ex-Date
To determine the list of shareholders eligible for the allotment of Bonus Equity Shares, DRC Systems has set February 27, 2024, as both the record date and ex-date. Investors who held shares on or before this date are eligible for the bonus shares.
DRC System Share Price
As of Monday, February 27, DRC Systems’ share settled at Rs 68.34 apiece, marking a 2% gain from the previous close at Rs 67.00 apiece. The company currently boasts a market cap of Rs 301.76 crore, with a 52-week high and low of Rs 71 and Rs 27.66 apiece, respectively. DRC Systems’ shares carry a face value of Rs 1 each.
DRC System Q3 FY24 Performance
In Q3 FY24, DRC Systems reported a 12.73% decline in revenue to Rs 7.88 crore compared to Rs 9.03 crore in Q2 FY24. The company’s net profit also experienced a decline, dropping to Rs 0.10 crore in Q3 FY24 from Rs 1.08 crore in Q2 FY24.
DRC System Share Price History
DRC Systems’ shares have shown remarkable performance, yielding a return of 260.82% in the last month, according to BSE analytics. Over the last two years, the return stands at an impressive 411.91%, with an absolute change of Rs 52.99 apiece.
