The board of directors of Seshasayee Paper and Boards Ltd. has recommend a stock split of its equity shares of face value of ₹10 each into five equity shares of face value of ₹2 each, subject to the approval of shareholders at the annual general meeting to be held on July 27.
Currently, the company had an authorised share capital of four crore equity shares, issued and paid up capital of 1.26 crore equity shares of ₹10 each. Post conversion, authorised share capital would get enhanced to 20 crore equity shares and issued and paid up capital to 6.30 crore equity shares of ₹2 each.
For the fourth quarter ended March 2019, the firm reported a 41.62% increase in its standalone net profit to ₹62.26 crore from the ₹43.96 crore registered during the corresponding quarter last year on higher income. Total income rose to ₹376.06 crore from ₹352.57 crore. The board recommended a dividend of ₹20 per share.
Wabco India
Wabco India Ltd. has reported a decline in its standalone net profit for the fourth quarter ended March 19 to ₹52.10 crore from ₹77.21 crore registered during the corresponding quarter last year. Total income slid to ₹676 crore from ₹805 crore.
For the full year, the company posted a small increase in its net profit to ₹282 crore from ₹273 crore. Total income rose to ₹2,927 crore from ₹2,660 crore. The board declared a dividend of ₹9 per share.
Sundaram Brake Linings
Sundaram Brake Linings Ltd. had posted a threefold increase in its standalone net profit for the fourth quarter to ₹3.84 crore from ₹1.01 crore recorded for the corresponding quarter last year, due to softened prices of key raw materials and better segmental mix. Total revenue rose to ₹72.37 crore from ₹70.87 crore.
For the full year, total income rose to ₹288.87 crore from ₹253.81 crore. Net profit stood at ₹7.05 crore against ₹3.76 crore in the corresponding year-ago period.