Phoenix Mills board to consider bonus issue on July 31

India's leading retail mall developer and operator Phoenix Mills has announced that its board of directors will be considering the issue of bonus shares for its shareholders in its upcoming board meeting scheduled on July 31.

“In furtherance to our letter dated July 24, 2024, regarding intimation of Board Meeting

scheduled to be held on Wednesday, July 31, 2024 and pursuant to Regulation 29 of the

Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’), we wish to inform you that the Board of Directors of the Company may inter alia also consider a proposal for issue of bonus shares to the equity shareholders of the Company.,” said the company board in a filing to the exchanges.

No other details have been provided by the company at this point.

Phoenix Mills had given 1 bonus in 2005. The last bonus issue announced was in the ratio 4:1, according to Trendlyne data.

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In its Q4FY24 results, Phoenix Mills had reported a profit after tax (PAT) of Rs 325 crore, which was an increase of 66% on a year-on-year basis against a PAT of Rs 195 crore reported in the corresponding quarter of the previous year.

The company’s total income was up by 11% YoY to Rs 143 crore in Q4FY24, while its operating EBITDA for the quarter stood at Rs 69 crore, up from Rs 65 crore in Q4FY23.

The shares of Phoenix Mills have given multibagger returns of 114% in the last one year and the stock has multiplied by nearly 3 times in a span of the last 2 years.

Phoenix Mills shares closed 1% higher at Rs 3,533.80 on BSE in the last session.

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