EID Parry allots 6,200 equity shares of face value Re 1 each

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EID Parry (India) Limited on June 20 said its stakeholders Relationship Committee has approved the allotment of 6,200 equity shares of the face value of Re 1 each arising out of the exercise of options granted under the employee stock option scheme, 2016.

Biswa Mohan Rath, the company secretary, said in the notice that the issued, subscribed, and paid up equity shares capital of the company would be increased from Rs 17,74,33,966 to Rs 17,74,40,165 comprising 17,74,40,165 equity shares of the face value of Re 1 each.

The company is being listed on both NSE Ltd. and BSE and the shares being issued are identical in all respects to existing shares. There will be no listing fee payable as the annual listing fee paid was for the capital slab up to Rs 100 crore.

The products of EID Parry are sold across more than 41 nations of the world. EID Parry holds the distinction of installing the first sugar plant in the country. The Indian public company has been in business for over 225 years.

The sugar, nutraceutical, and sanitiser products manufacturer has undergone a massive growth in earnings per share over the last three years. According to the stock market news website 'Simplywall', EID Parry (India)'s EPS catapulted from Rs 25.27 to Rs 51.11, over the last year. It's a rarity to see 102 percent year-on-year growth for any company. That could be a sign that the business has reached a true inflection point.

One way to double-check a company's growth is to look at how its revenue and earnings before interest and tax (EBIT) margins are changing. "While we note EID Parry (India) achieved similar EBIT margins to last year, revenue grew by a solid 27 percent to Rs 235b," the report said.