As the Q2 earnings season progresses, corporate actions such as stock splits are catching the attention of investors seeking ways to enhance their portfolio. Here’s a look at four companies scheduled for stock splits in November 2024:
1. Contil India
Contil India, formerly known as Continental Credit and Investment Limited, is making its first move to increase share accessibility through a 1:5 stock split. Originally priced with a face value of ₹10 per share, each share will be split into five shares with a face value of ₹2. This split, approved on August 2, 2024, is aimed at boosting liquidity and drawing in small investors. The record date is set for November 13, 2024. Contil India reported a revenue of ₹28.24 crore in FY24, with an operating profit of ₹0.59 crore and a net profit of ₹1.41 crore.
2. Motisons Jewellers
Motisons Jewellers, a well-known name in the Indian jewellery sector, has decided to conduct a 1:10 stock split. Each share with a face value of ₹10 will be split into ten shares with a face value of ₹1. This initiative, marking the company’s first split, will increase outstanding shares and improve liquidity. The record date for the stock split is November 9, 2024. For the June 2024 quarter, Motisons reported a revenue of ₹86.7 crore and a net profit of ₹5.5 crore.
3. Systematix Corporate Services
Systematix Corporate Services, a category I merchant banker with SEBI, is undergoing a 1:10 stock split to enhance accessibility for investors. Originally priced at ₹10 per share, each share will now be divided into ten shares valued at ₹1 each. The record date is set for November 5, 2024. In the June 2024 quarter, Systematix reported a revenue increase of 66.5% year-over-year, reaching ₹29.3 crore, though its net profit fell from ₹4.4 crore to ₹1.7 crore.
4. Premier Polyfilm
Premier Polyfilm, a manufacturer of vinyl flooring and artificial leather, has approved a 1:5 stock split, transforming each ₹5 face value share into five shares of ₹1 face value. The company’s record date for the stock split is November 5, 2024. In the September 2024 quarter, Premier Polyfilm saw a 3.5% revenue growth to ₹78.73 crore and a significant 60.7% rise in net profit to ₹7.86 crore.
These upcoming stock splits present an opportunity for investors to consider stocks with increased affordability and potential for higher liquidity. Keep an eye on these companies as they navigate their corporate actions in November.