PNN
Mumbai (Maharashtra) [India], July 27: Share India Securities Limited. (NSE - INE932X01026, BSE - 540725), is a technology driven financial services provider that offers a wide range of customized solutions in the capital market, has announced its Financial Results for the Quarter ended 30th June 2024.
Other Highlights:
* Dividend Declaration: A 1st interim dividend of Rs 0.40 per equity share (face value Rs 2 each) has been announced, with August 2, 2024, set as the Record Date.
* Board Appointments: The company has appointed Rajendran Chinna Veerappan, Dr Ananta Singh Raghuvanshi, and Subhash Chander Kalia as Independent Directors, each for a term of five consecutive years.
* Credit Ratings: CRISIL Ratings Limited has assigned a Long-Term Rating of CRISIL A+/Stable and a Short-Term Rating of CRISIL A1+ to Share India Securities Limited's Rs 200 Crore bank loan facilities.
* Stock Split: Board approved stock split/sub-division of each equity share having face value of Rs 10 each into 5 equity shares of face value Rs 2 each.
Commenting on the performance, Sachin Gupta - CEO & Whole-time Director of Share India Securities Limited said, "We are thrilled to share our exceptional performance for Q1 FY25, highlighted by a substantial 51 per cent increase in consolidated total income, reaching Rs 421 crore. Our standalone operations have shown even more impressive results, with a 59 per cent growth in total income, amounting to Rs 331 crore, alongside significant margin improvements. These results underscore the effectiveness of our strategies and our unwavering commitment to innovation.
In addition to our financial achievements, we are pleased to declare a first interim dividend. We are also proud to receive CRISIL Ratings Long-Term Rating of CRISIL A+/Stable and Short-Term Rating of CRISIL A1+. The recent board-approved stock split and the formation of our new subsidiary, Silverleaf Securities Research Private Limited, further highlight our strategic initiatives to enhance shareholder value and strengthen our market position.
These developments reflect our continuous efforts to drive growth and deliver value. We are optimistic about the future and remain dedicated to sustaining our success."
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