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The record date for the bonus issue will be fixed in due course, Shivalik Bimetal Controls said in a statement.
Further, the board also approved the re-appointment of S.S. Sandhu, chairman & whole time director, whose period of office will expire on 31 July 2023 and decided to re-appoint him for another period of five years from 1 August 2023 to 31 July 2028.
Shivalik Bimetal Controls is specialized in the joining of material through various methods such as diffusion bonding / cladding, electron beam welding, solder reflow and resistance welding. It offers precision manufactured components specific to the application requirements.
On a consolidated basis, net profit of Shivalik Bimetal Controls rose 87% to Rs 21.69 crore on 58% rise in net sales to Rs 110.78 crore in Q1 June 2022 over Q1 June 2021.
Shares of Shivalik Bimetal Controls jumped 3.74% to Rs 624.70 on Monday, 29 August 2022.
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