After rallying 300% in 90 days, shares of this multibagger garments maker will turn ex-bonus, ex-split today

Shares of garments maker Vinny Overseas, which have rallied 127 per cent in 2023 so far, 317 per cent in last three months and a whopping 410 per cent in last one year, would turn ex-bonus and ex stock split today.

The multibagger stock will turn ex-bonus in the 13:10 ratio and ex-split from face value of Rs 10 to shares with face value of Re 1 each. The company board had passed a resolution for the same on February 14.

“The board of directors of the company has passed the necessary resolution, on 14th February 2023 and has fixed the record date on Friday, 24th February 2023 for the purpose of sub-division of 1 equity share of Rs. 10/- each into 10 equity shares of Rs. l/-each ful1y paid up and issue of bonus shares in the ratio of 13:10,” the compamy had said.

The pre-bonus paid-up equity share capital was Rs 10,11,40,570, consisting of 1,01,14,0s7 equity shares of Rs 10 each. The post-bonus paid-up equity share capital is expected to be around Rs 23,26,23,311 shares, consisting of 23,26,23,311 equity shares of Rs l/-each. (after considering the split of shares).

Vinny Overseas is Ahmedabad-based company engaged in the business of processing of clothing fabrics. It procures Grey Fabric from the market and dyes the same as per the client’s requirements. It is also engaged in Job-Work for wholesale cloth merchants and trades in grey cloth. Vinny Overseas caters to both domestic and international clients. It was listed on bourses in 2018.

The company’s product offerings are classified under shirtnig fabrics, shooting fabrics, polyester fabics, dress materials and cotton fabrics.

The company’s processing unit is located at Isanpur Road, Narol, Ahmedabad in the state of Gujarat, on approximately 27,000 square yards of land, which comprises of dyeing, printing and finishing processing with a capacity of processing of 4,00,00,000 meter per annum.

For the December quarter, the company reported narrowing of losses to Rs 0.27 crore against Rs 1.09 crore in the year-ago quarter. Sales for the quarter fell 18.96 per cent to Rs 20.09 crore from Rs 24.79 crore in the year-ago quater. Ebitda stood at Rs 1.02 crore in the December quarter against Ebitda loss of Rs 0.87 crore in the December quarter last year.

The company was established in 1992 by Late Shri Mohanlalji Parekh & Hiralalji Parekh. Before this, the company used to trade in the name of Mohanlal Mahavirchand Impex. It exports products to various countries such as Dubai, Behrain, Indonesia, Sri Lanka, USA, China, Brazil, Oman etc.

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