VMPL
Mumbai (Maharashtra) [India], March 20: Captain Technocast Limited (CTCL), is one of the leading manufacturer, exporter, and supplier of premium industrial castings, has announced the issuance of bonus shares.
The company has approved a 1:1 bonus issue, granting one bonus share for every existing equity share. This issuance will be executed through the capitalization of free reserves, highlighting the company's strong financial position. As a result, the paid-up share capital will double from Rs11.61 Cr, consisting of 11,610,050 equity shares with a face value of Rs10 each, to Rs23.22 Cr, comprising 23,220,100 equity shares with a face value of Rs10 each.
Commenting on the Bonus Issue, Anil V. Bhalu, Managing Director of Captain Technocast Limited said, "We are delighted to announce this 1:1 bonus issue, a testament to our strong financial foundation and commitment to rewarding our valued shareholders. We are expanding our export business by leveraging our strong presence in Europe and America while scaling our valve production with automation-enabled products to meet rising industry demand. With increased production capacity and government incentives, we are enhancing our market position through innovation, operational efficiency, and global expansion. Our consistent growth and profitability empower us to take these strategic steps, reinforcing our commitment to delivering sustained value."
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