Rajnandini Metal Limited announces Bonus Issue of Equity Shares

New Delhi [India], August 3 (ANI/NewsVoir): Rajnandini Metal Limited is one of the most reputed names in the metal and copper wire industry. Established in 2010, the company works as a crucial business interface, networking between manufacturers/processors/yards and consumers/traders worldwide. After the increase in net profit by 128 per cent in the quarter ended June 2022, wherein the sales crossing the 1000 crores mark this year already.
Rajnandini Metal Limited is set to score a HATTRICK by giving BONUS to its investors for the THIRD CONSECUTIVE YEAR. Even during the pandemic, the company had provided bonuses to all its investors twice in 2020 and 2021. And now, it has been announced that the BONUS for this year shall be disbursed on August 10, 2022.
With a production capacity of over 2000 Metric tonnes, Rajnandini Metal Limited has been a leader in the manufacturing of copper wire Rods, Annealed Copper and bunched Wires, submersible cables, housing wires other special cables.
The company has recently acquired land of over 10,000 sq. meters which will soon be developed into a full-fledged Special Cables plant. With the capability of high-tech machines and innovative technology, the manufacturing plant has the capacity to draw copper wires of all sizes ranging from 8 mm to 0.1 mm.
The company plans to establish an extensive manufacturing facility which also includes the production of B2C products like LEDs, electrical accessories, lights, MCBs, and much more. The distant vision for Rajnandini Metal Limited also ropes in the automotive industry where it plans on getting into lithium battery wire production which is considered to be one of the growth drivers for the future of the wire and cable industry in India.
Rajnandini Metal Limited also announced its maiden dividend of 10 per cent on August 1, 2022. It's growing at a rapid pace with finance cost remained under control during FY2021-22. EBITDA margins have been maintained with impressive growth momentum in line with the company's plans with a Y-o-Y increase of 40.11 per cent. The total revenue and EAT of the company have been on a steady rise as well since 2019 till date. The company increased its total revenue from 14,885 lacs in 2019 to 1,02,949 lacs in 2021-22. The earnings after tax for the company witnessed growth from 115 lacs in 2019 to a total of 1,001 lacs in 2022.
Het Ram Sharma, Managing Director - Rajnandini Metal Limited shares, "It gives me immense pleasure to announce that we would be issuing bonus to our investors this year as well. By doing so, Rajnandini Metal Limited would be scoring a hattrick of giving bonuses for three consecutive years along with an announcement of a maiden dividend of 10 per cent.
Presently, our main aim is to grow our production by setting up a plant of special cables in our recently acquired land (10,000 Sqm+). We are mainly focused at growing our production by putting up a plant in our recently acquired land which is currently under the construction phase. This is only bound to contribute towards our growth and help us position stronger in the metal industry. I am thankful to all investors who have shown their trust in the company. We are committed to growth and looking forward for the company's expansion worldwide."
Aimed at establishing itself as a true solution-providing company in the world metal industry, Rajnandini Metal Limited embarks on creating and developing newer markets in All SAARC countries, Africa, East Europe, Latin America, etc. by adding them into its mainstream business network. It also looks at delving into trading and production opportunities which allows integration and impetus to its current activities. Adding value to customer's business is Rajnandini Metal Limited's motto and their success is driven by intelligent solutions and a solid commitment towards achieving customer satisfaction.
The company has been ISO certified along with certifications from the Haryana State Pollution Control, Material Recycling Association of India, and other prestigious organizations.
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