Capri Global Capital Ltd announces Stock Split and 1:1 bonus

Board of directors of Capri Global Capital Ltd  has approved a stock split and 1:1 bonus issue. The company board also approved issuance of Non-Convertible Debentures through Public issue/private placement for an amount up to Rs. 500 crore in tranches.  

As per the release, the Board of directors at its meeting held on January 27 has approved sub-division of one equity share of the face value of Rs. 2 each fully paid-up into two equity shares of the face value of Re. 1 each fully paid-up. Company board also approved a 1:1 bonus issue i.e one new fully paid-up bonus equity share of face value of Re.1 each for every one fully paid-up equity share of face value of Re.1. Company has fixed the record date as Tuesday, March 5, 2024, for the stock split and bonus, subject to the approval of shareholders at the ensuing Extra-ordinary General Meeting of the Company scheduled to be held on Thursday, February 22, 2024.

For the Q3FY24 company has reported net profit of Rs. 68 crore, a rise of 81.7% Y-o-Y from the net profit of Rs. 37.4 crore reported in Q3FY23. Asset under management of the company rise 54.4% to Rs. 13,362.1 crore as on Q3FY24, rise of 54.4% Y-o-Y from Rs. 8,654.5 crore in Q3FY23. Company has inducted Mr. L V Prabhakar, Mr. Shishir Priyadarshi, and Ms. Nupur Mukherjee as additional independent directors on its Board of Directors subject to shareholder approval.  

company has reported AUM of Rs. 124 billion in Q2FY24. Promoter Group holds 69.89% stake in the company as on 31st Dec 2023. Going forward, the company is targeting AUM of Rs. 300 billion and earning target of mid-teen ROE over the medium term with a strong focus on the business segments including Gold Loan, Affordable Housing and MSME loans.

On 16th January 2024, the company received a composite Corporate Agency license from the Insurance Regulatory and Development Authority of India (IRDAI) in December 2023 to distribute life, general, and health insurance products.   During the period of 2018-2023, the company has reported robust CAGR of 26% in Net Profit and 33% in Sales. With the excellent consistent growth in the financials, share price of the company went up by 7.6 times during 2018-2023. 

In the insurance business foray, the company is planning to leverage technology to revolutionize the way insurance products and services are delivered to customers.  This in turn will assist the Company to immensely contribute to the ‘Insuring India by 2047’ mission of IRDAI. The Company’s basic motto is to offer a customer-centric approach to insurance.  

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