The company will issue one fully paid-up bonus equity share of Rs 10 each for every one existing fully paid-up equity share of Rs 10 each held by its shareholders as on the "record date", subject to necessary approvals.

The company has fixed 28 February 2024 has been fixed as ‘record date’ for the purpose of determining the eligibility of shareholders/beneficial owners, who shall be entitled to receive the bonus shares.

The balance in Securities Premium Account as per audited financial statements for the financial year ended on 31 March 2023, is Rs.167.22 crore, which is sufficient for issuance of the bonus shares.

The company would capitalize Rs 13.15 crore from the Securities Premium Account for implementing of the bonus issue.

Fiem Industries’s share capital will increase from Rs 13.15 crore (consisting of 1.31 crore equity shares) to Rs 26.31 crore (consisting of 2.63 crore equity shares).

The bonus shares would be credited to the respective demat account of the shareholders on or before 15 March 2024.

Fiem Industries is engaged in the business of manufacturing and supply of auto components comprising of automotive lighting & signalling equipments, rear-view mirror, prismatic mirror, plastic moulded parts, bank angle sensor, canister and sheet metal components for motorised vehicles, and LED luminaries comprising of indoor and outdoor lighting, display panels and integrated passengers information system.

The company had reported 6.65% rise in net profit to Rs 43.48 crore despite a 2.87% fall in sales to Rs 506.38 crore in Q2 FY24 over Q2 FY23.