3:5 Bonus Share: Penny Stock Under Rs 2; Board To Meet On May 05 To Announce Results & Rights Issue
The stock is down by 19 per cent from its 52-week high of Rs 1.65 per share while it is up by 79 per cent from its 52-week low of Rs 0.75 per share.
The Board Meeting of Sattva Sukun Lifecare Ltd is scheduled to be held on Monday, May 5th, 2025, due to unavoidable circumstances. The agenda for this meeting includes crucial matters such as the determination of the Record Date, terms, conditions, and other details about the Rights Issue of Equity Shares, encompassing the issue price, payment methods, size, entitlement ratio, record date, and the opening and closing dates. Furthermore, the Board will consider and approve the Letter of Offer and associated documents for the Rights Issue. The meeting will also address the appointment of a Director and the approval and taking on record of the audited standalone and consolidated financial results of the Company and its subsidiaries under Indian Accounting Standards (Ind AS) for the financial year ending March 31, 2025.
Earlier, the company announced the receipt of a significant purchase order from Mangalam Brands Pvt Ltd, for 10,000 units of their specialised Electric Kapoor Dani (Wooden) Sheesham Wood with Carving design. This single order specifies a temperature heating timing of 240 degrees in 5 minutes, with a stable temperature of 240 degrees, and a red LED indicator. This order represents a substantial quantity, highlighting the demand for Sattva Sukun Lifecare's unique product.
Furthermore, shares of the company were traded at a bonus issue of 3 new equity shares for every 5 existing shares, to be issued by capitalising its Securities Premium Account (Ratio 3:5). This move will increase the company's equity share capital from Rs 12 crore to Rs 19.2 crore. The ex-date for bonus shares was Friday, January 17, 2025.
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Sattva Sukun Lifecare Ltd (formerly known as Mayukh Dealtrade Ltd), established in 1980, manufactures and sells burners. The company's product line includes camphor sticks and various aroma burners, such as Mantra Aroma Burner, Brilliance with Timer, and Navkar Mantra Aroma Burner. In July 2021, they launched the Brilliance with a Timer aroma burner and expanded their business by acquiring a 60 per cent stake in Mayukh Medi Care Private Limited, a subsidiary focused on medical and general stores.
The stock is down by 19 per cent from its 52-week high of Rs 1.65 per share while it is up by 79 per cent from its 52-week low of Rs 0.75 per share. The company has a market cap of Rs 25 crore with a PE of 10x whereas the industry PE is 30x. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.