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The company's board approved the proposal of sub-division of Equity Share having face value of Rs 5 each fully paid up into equity shares having face value of Rs 2 each fully paid up at the record date to be determined. The stock split is subject to approval of shareholders through postal ballot.
The company expects completion of stock split approximately 3 months from the approval.
JBM Auto is the flagship company of the JBM Group. The group has a diversified portfolio with presence in multiple domains such as auto components & systems, buses & electric vehicles, EV charging infrastructure, renewables, environment management and EV aggregates.
On a consolidated basis, JBM Auto posted a 23.5% rise in net profit to Rs 25.30 crore on 45.5% increase in net sales to Rs 752.72 crore in Q2 FY22 over Q2 FY21.
Shares of JBM Auto were trading 0.42% lower at Rs 1,101.70 on BSE.
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