Sprayking Ltd recommends 1:1 bonus issue

Sprayking Limited, formerly known as Sprayking Agro Equipment Limited, has announced the issuance of a 1:1 bonus share (100% Bonus) to its valued shareholders. This significant move underlines the company's commitment to rewarding its investors and signifies the substantial growth and success achieved over the years.

Sprayking Limited was incorporated in 2005, embarking on a journey of innovation and excellence in the agro-equipment industry. The company made its debut on the BSE SME platform in 2016, a testament to its robust business model and growth potential. In 2023, Sprayking Limited transitioned to the BSE Mainboard, marking a significant milestone in its corporate journey.

Over the years, Sprayking Limited has consistently expanded its business, evolving from a single manufacturing unit to multiple state-of-the-art production facilities. The company has also diversified its product range, offering a wide variety of high-quality agro-equipment that meets the evolving needs of the agricultural sector. This strategic growth has enabled Sprayking Limited to strengthen its market position and deliver sustained value to its stakeholders.

The financial performance of Sprayking Limited over the past three years reflects its robust growth trajectory. The company's revenue has surged from 715.98 crores in FY 2022 to 2101.66 crores in FY 2024 on a consolidated basis. Similarly, the Profit After Tax (PAT) has shown a remarkable increase from 0.35 crores in FY 2022 to %8.91 crores in FY 2024 ona consolidated basis.

The decision to issue a 1:1 bonus share reflects Sprayking Limited's confidence in its future prospects and its commitment to enhancing shareholder value. For every share held. shareholders will receive one additional share, effectively doubling their investment. This move is designed to acknowledge the unwavering support and trust of the company's investors.

Commenting on this development, Mr. Hitesh Dudhagara, Managing Director of Sprayking said: "We are thrilled to announce the 1:1 bonus issue as a token of our appreciation for the unwavering support and trust of our shareholders. This bonus issue not only demonstrates our strong financial position but also our confidence in the continued growth and future prospects of Sprayking Limited. Our Journey from incorporation in 2005 to becoming a significant player on the BSE Mainboard in 2023 has been marked by strategic expansions and consistent performance. We are committed to delivering value to our shareholders and are excited about the opportunities that lie ahead.

The bonus shares will be issued to all eligible shareholders as of the record date, which will be announced shortly. We remain committed to enhancing shareholder value and are confident that this bonus issue will further strengthen the bond between Sprayking Limited and its shareholders.

Sprayking Limited is poised for continued growth and innovation. Our focus remains on expanding our market presence, enhancing product offerings, and driving sustainable growth. We thank our shareholders, employees, customers, and partners for their continued support and trust."

Source : Equity Bulls

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Sprayking BonusIssue 1For1