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ATK
New Delhi [India], September 17: Fedders Holding Limited, a prominent player in the iron ore mining and steel industry, is pleased to announce the subdivision of its equity shares as part of its ongoing efforts to enhance market accessibility and liquidity for shareholders. The company has set 20th September 2024 as the "Record Date" to determine the eligibility of shareholders for the subdivision. In addition to this strategic move, Fedders Holding Ltd. has demonstrated remarkable financial growth. The company reported a significant financial growth of Rs. 94 crore in the previous financial year 2023-24. In Q1, FY2024, the company generated a profit of Rs. 5 crore on sales totaling Rs. 74 crore as compared to Rs. 20 crore profit on sales of Rs. 142 crore in Q1 FY2025--an impressive jump that reflects its operational efficiency and market expansion efforts. The company also strengthened its promoter shareholding, which has risen by 2.40%. This increase highlights the company's long-term growth potential and reaffirms its strategic initiatives aimed at driving shareholder value. Fedders Holding Ltd. continues to prioritize the interests of its shareholders by maintaining transparency and setting a record date at least 30 days in advance of any stock-related activities, including issuance thresholds or restrictions. With the sub-division, Fedders aims to capitalize on its solid foundation, paving the way for sustainable and vigorous growth as it expands its footprint both domestically and globally. Fedders Holding Ltd A leading corporate company with a specialized focus on the Steel sector with an ongoing vision of setting up a fully integrated TMT Steel Plant which would involve, from mining Iron ore to manufacturing TMT Bars all under one Group. The company is involved into steel business since 25+ years, it was bought over by Rakesh Singhal, who has an experience of 40 years in the industry. A well-known and respected businessman, the promotors are the leading manufacturer of LPG cylinder in India having the largest market share. (ADVERTORIAL DISCLAIMER: The above press release has been provided by ATK. ANI will not be responsible in any way for the content of the same)
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