Goel Food Products Announces 4:1 Bonus Shares and Dividend Rewards

Goel Food Products offers shareholders bonus shares at a 4:1 ratio and a Rs 0.50 dividend. The BSE-listed penny stock's current price is Rs 174 with a Rs 65.60 crore market cap.

Goel Food Products, a penny stock listed solely on the BSE, has announced enticing rewards for shareholders, including free bonus shares at a 4:1 ratio and a dividend of Rs 0.50 per share. Currently, the share price stands at Rs 174, with a market cap of Rs 65.60 crore.

Year-to-date, the stock has risen by 27% on the BSE, with an 8% increase observed in May alone. The bonus issue, pending shareholder approval at the upcoming AGM, will offer four new shares for every existing share, with no additional cost to shareholders.

In addition to bonus shares, Goel Food Products has proposed a dividend of Rs 0.50 per fully paid equity share for the fiscal year ending March 2024. Dividends, which can be interim, special, or final, are a sign of a company’s profitability and its capacity to distribute earnings to shareholders.

Stock analysis reveals mixed performance. While annual revenue increased by 5.25% to ₹25 Cr, slightly above the sector average, the stock price fell by 4.53% last year, underperforming its sector by 36.24%. However, its ROE of 22.53% signifies effective capital use.

Goel Food Products is part of the Bika Group, which has over 35 years of experience in managing premium wedding venues and a hospitality branch in Howrah. The group also includes Bika Sweets and Confectionery with multiple outlets in Kolkata and Howrah.

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