Sonia kulkarni, Researcher

Suumaya Industries Ltd (NSE listed company with NSE Code: SUULD) an emerging diversified conglomerate group has announced 1:1 bonus issue rewarding the shareholders on Strong Reserves and Performance for FY2022.Suumaya Industries has evolved itself into a significant player within the Agri Value chain. The company's diversification and aggressive expansion plans into the agri commodity business is proving to be a strategic move that will drive its long-term growth momentum.The company today recommended Bonus of Equity Shares in the ratio of 1:1 (One Equity share of bonus against One Equity share held by the Shareholders as on record date to be announced in due course (subject to approval of shareholders and other regulatory authorities). The company has also referred to an increase in its authorized capital from INR 54 crores to INR 75 crores.Commenting on the bonus issue, Ushik Gala, Chairman & Managing Director of Suumaya Industries Ltd. said, "We are extremely delighted to announce bonus issue in the ratio of 1:1. The bonus issue is just a token of appreciation to our shareholders, who have remained our pillar in our growth cycle. The company has registered strong all-round performance in FY 2022 carrying forward the legacy. We are witnessing surge in demand as business is picking up rapidly and we have been able to ride the wave. We are optimistic of sustaining our growth momentum during the year."Gala, further added, "We have taken a strategic approach in reorganizing our business model with a more granular and vertical focused. Our growth in the earlier quarters gave us the required impetus to catapult us into a certain planned expansion mode. We are evolving as a company with all our learnings in place. We are now looking towards a more sustainable growth with business plans laid down within each verticals. This is being done to mitigate and put the company on a strong foundation of sustainable growth. The company is endeavoring to emerge as a fully integrated Agri-value chain player - from farm to fork model. Our next phase of growth will come from strengthening our key focus areas based on long term vision and a well-defined business plan."During the third quarter of FY2021-22, the company reported consolidated revenues of INR 1,012 Crores and PAT of INR 96Crores. For the Nine Months period ended December 31, 2021, the company posted Revenues of INR 11,020 Crores and PAT of INR 691 Crores. The company is driving its business operations in sync with its financial and growth aspirations, including investing in profitable and scalable businesses.Suumaya Industries Ltd. (NSE Code: SUULD) is an emerging diversified conglomerate group established in the year 2011. The group is backed by experienced promoters with over three decades of experience in the Textile Industry. Having built a strong foundation in the textile domain, the company has expanded to newer growth areas like retail and agri business as part of the "Suumaya 2.0 strategy". The company is differentiating their approach in the entire Agri Value Chain and strengthening its foothold to be dominant player in the Agri & Retail segment.For further information on Suumaya Industries LtdFor further media queries, please contact:Sonia Kulkarni | Hunk Golden and Media+9198201 84099 | sonia.kulkarni@hunkgolden.inThis story is provided by Hunk Golden and Media.will not be responsible in any way for the content of this article. (ANI/Hunk Golden and Media)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Ahmedabad Plane Crash

Pune Bridge Collapse

Maharashtra News

Mumbai Local

Weather Update

Mumbai Rains

Sonia KulkarniFOLLOW

Sonia kulkarni, Latest News

Business :Mobicule launches Industry First, Asset Repossession Module for Banks and NBFCs

Mobicule, a niche player and expert in debt collection has announced the launch of mCollect Repossession module, an industry first for banks and NBFCs. The revolutionary Asset Repossession Solution is a comprehension solution that maps all the comple ...

Business :BI WORLDWIDE India celebrates its 6th consecutive win at the Dragons of Asia Awards, 2022

BI WORLDWIDE, a global leader and India's foremost in delivering measurable tech-enabled loyalty and engagement solutions inspired by applied behavioural science, has once again emerged victorious at the recently concluded Dragons of Asia Awards, 202 ...

Business :Gera Developments announces exclusive, limited period offer on Gera's Imperium Gateway, the largest Commercial Project in Pune to boost office buyers' interest

Gera Developments, pioneers of the real estate sector and award-winning creators of premium commercial and residential projects across Pune, Goa, and California, has announced an exclusive limited-period offer on their latest and largest commercial p ...

Business :Gera Developments rolls out new initiatives with customer centricity at the core; Launches E-registrations of property to offer unmatched convenience to property buyers

Gera Developments, pioneers of the real estate sector and award-winning creators of premium commercial and residential projects across Pune, Goa, and California has rolled out new initiatives with customer centricity at the core thereby raising the l ...

Business :Tynimo Store on Wheels runs successfully into the second month of its launch

Tynimo, a Bengaluru-based lifestyle retail brand has been successfully running Tynimo Store on Wheels since March 2022 in Bengaluru. Tynimo Store on Wheels is a unique concept launched by Tynimo to reach out to the customers directly during the third ...

Business :Suumaya Industries Limited announces 1:1 bonus issue rewarding the shareholders on Strong Reserves and Performance for FY2022

Suumaya Industries Ltd (NSE listed company with NSE Code: SUULD) an emerging diversified conglomerate group has announced 1:1 bonus issue rewarding the shareholders on Strong Reserves and Performance for FY2022. ...