HPCL Announces Issue of Bonus Shares 1:2: Check Record Date & Other Important Details

Hindustan Petroleum Corporation Limited (HPCL) has announced that June 21 is the record date for the upcoming issuance of 1:2 bonus shares. This means that today, June 20, is the last day to purchase HPCL shares to qualify for the bonus shares.

What does a 1:2 issue of bonus shares mean?

Simply put, for every two shares of HPCL an investor owns, he will receive one additional share. These bonus shares will be credited to the Demat accounts of the eligible shareholders by July 8, as per the company’s earlier announcement.

How will HPCL finance the issuance of bonus shares?

HPCL will use Rs 709.27 crore from its free reserves or share premium to fund the issuance of bonus shares.

Paid-up share capital

Before the issuance of the bonus, the paid-up share capital of the company stands at Rs 1,418.55 crore. Post issuance, this will rise to Rs 2,127.82 crore.

HPCL Q4 Results: Net Profit

In the fourth quarter of fiscal 2024 (Q4FY24), HPCL reported a net profit of Rs 2,709.31 crore, down 25 percent compared to the same quarter the previous year.

HPCL Q4 Results 2024: Full Financial Year Net Profit

However, for the entire financial year 2023-2024, HPCL posted a record net profit of Rs 16,014.61 crore, a significant turnaround from the loss of Rs 6,980.23 crore reported in the previous year.

HPCL Stock Performance

Over the past year, HPCL shares are up 89 percent, and year-on-year (YTD) they are up 29 percent.

Close of HPCL share price

Despite this overall growth, HPCL shares closed 2.73 per cent lower at Rs 515.70 on the BSE today.