Sindhu Trade Links Board approves Bonus Issue
Apr 11, 2022
Mumbai (Maharashtra) [India], April 11 (ANI/PNN): The Board of BSE listed (Code: 532029) Sindhu Trade Links Limited, as part of the company's endeavors to increase shareholders' wealth, has approved the issue of Bonus Equity Shares to the existing shareholders in the ratio of 2:1, i.e. 2 Bonus Equity Share of Rs. 1 each for every 1 existing Paid Up Equity Share, held by the shareholders on record date.
The board also approved the increase in the authorized Share Capital from Rs. Fifty Two Crores to Rs. One Hundred and Fifty Six Crore, subject to approval by shareholders.
Sindhu Trade links Ltd. indulged into several sectors such as business of logistics, transportation, mining, coal beneficiation, power generation to sponge iron and steel, stock broking, media, finance, food processing park, and Real Estate aims to be debt free by 2023.
The company is a 'one-stop shop' for a wide range of support services in the field of mining and allied activities, logistics and transportation. STTL has already reduced its bank debt by Rs. 1041.5 million.
With the outburst of covid 19 which disturbed the course of businesses across the work the company dared to take this step. The management is determined to keep the debt reduction which ultimately aims to go debt free by 2023. Sindhu Trade Links Limited has recorded a 200 percent year-on-year increase in net profit on higher realisation to Rs. 2,822 lakhs in the nine months ended on December 31, 2021.
STTL's has 5 subsidiaries and associates, involved in diversified businesses, namely 1. Hari Bhoomi Communications Private Limited-Media Business, 2. Sudha Bio Power Private Limited - Bio Mass Based Power Generation, 3. Indus Best Mega Food Park Private Limited - Development of Food Park for Food Processing Industries, 4. Shyam Indus Power Solutions Private Limited - EPC of Power Distribution, Power Transmission, Railway OHE, Railway Track Laying, and 5. Param Mitra Resources Pte. Limited - Overseas Coal Mining. For Overseas Coal Mining businesses, the Company has several step-down subsidiaries, associates, joint ventures in Australia, Hongkong, Singapore and Indonesia.
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