Surya Roshni Ltd., the Steel producer, announced on Thursday, November 14, that it will issue bonus shares to its shareholders. The company made the announcement along with its September quarter results.

Surya Roshni will issue one free share for every one share held by shareholders as on the record date.

Record date for the bonus issue of shares is yet to be determined.

Additionally, Surya Roshni also announced a dividend of ₹2.5 per share, the record date for which has been fixed as November 29, 2024.

This is the first-ever bonus issue that the company will announce for its shareholders.

Last year, Surya Roshni carried out a stock split, where it announced that it would split one share of face value of ₹10 into two shares of ₹5 each.

For the September quarter, Surya Roshni’s reveune declined by 20% from last year, while its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) declined by 40%. The company’s net profit also declined by 55% on a year-on-year basis.

Surya Roshni attributed the earnings performance to a sharp decline in HR Steel prices. “Dampened demand resulted in lower revenue,” the company said. It also attributed the lighting & consumer durables segment performance to continued price erosion in LED products.

Shares of Surya Roshni ended 11% lower on Friday, despite the announcement of the bonus issue.