Motherson Sumi share price trades ex-bonus today: Check ratio and record date

Motherson Sumi Share Price, Motherson Sumi Share Bonus Record Date: Samvardhana Motherson International Limited (SMIL), NSE: MOTHERSON, shares trade ex-bonus on Monday, October 3, 2022. The company has fixed October 5 as the record date for its bonus issue. The bonus share will be issued in the ratio of 1:2, meaning 1 extra share will be issued to the investors for every 2 stocks.

On the NSE, the stock price adjusted as per the bonus ratio and showed a difference of over 31 per cent from its previous closing of Rs 109 apiece. At 10:30 PM, the auto sector stock was trading at Rs 73.

Samvardhana Motherson International Limited, formerly known as Motherson Sumi Systems Limited through an exchange filing on September 23, 2022, said, “the Board of Directors of the Company for issue of bonus shares to the shareholders in the ratio of 1 (one) bonus equity share against 2 (two) existing equity shares, subject to the approval of the shareholders.”

SMIL has fixed Wednesday, October 5, 2022, as ‘Record Date’, for the purpose of ascertaining the eligibility of shareholders entitled for issuance of bonus shares by the company, the regulatory filing also said.

In another exchange filing last week on September 26, Samvardhana Motherson Group announced the acquisition of the mirror business of Ichikoh Industries.  

“SMR Automotive Mirrors UK, United Kingdom (SMR UK), a 100% step down subsidiary of Samvardhana Motherson Automotive Systems Group BV, Netherlands (SMRP BV), has entered into a Share Purchase Agreement (Agreement) with Ichikoh Industries, Japan (Ichikoh) for the acquisition of 100% equity share capital held by Ichikoh in Misato Industries Co., Japan and Ichikoh (Wuxi) Automotive Parts Co., China,” the filing said.

Meanwhile, credit rating agency ICRA Ratings have reaffirmed the ratings of SMIL on the back of its established position as one of the leading automotive component suppliers globally and its well-diversified business profile across products, customers, and geographies.  

The ratings continue to draw comfort from SAMIL’s healthy financial risk profile, characterized by a comfortable capital structure and strong liquidity, the rating agency said in its report.

"Despite the several disruptions in the past fiscal, the company continued to maintain strong liquidity, with sizeable cash and bank balances (~Rs 4,100 crore as on June 30, 2022), and low utilisation of revolving credit and working capital facilities (buffer of Rs ~4,200 crore as on June 30, 2022)", ICRA said in its report.