PNN
Mumbai (Maharashtra) [India], December 5: Mumbai-based, advertising and marketing solutions company, Maagh Advertising and Marketing Services Ltd is considering bonus issue and stock split. Meeting of board of directors is scheduled to be held on 20th December to consider and approve for bonus shares and stock split subject to regulatory approvals and shareholders' approval.
Incorporated in 2013, Maagh Advertising And Marketing Services Ltd is an advertising agency primary offering creative and media services. The company offers a complete range of designing, media, creative services and social media advertising.
Business Highlights:-
* In September 2023, company acquired 100% shareholding of Multi-Specialty Management Services Pvt Ltd
* For H1FY23, company reported Total income of Rs 21.55 crore, Y-o-Y growth of 80%; EBITDA of Rs 2.15 crore, Y-o-Y growth of 153%; Net Profit of Rs 1.27 crore, Y-o-Y growth of 286%
* The company launched Rs 9.2 crore public issue in Sept 2022 to fund its expansion plans
For H1FY24 ended September 2023 company reported 80% rise in the total income to Rs 21.55 crore as against total income of Rs 11.99 crore in H1FY23. Operating profit for the six months ended September 2023 was reported at Rs 2.15 crore, 153% rise Y-o-Y as compared to operating profit of Rs 85 lakh in H1FY23. Net Profit for H1FY24 grew multifold to Rs 1.27 crore as compared to Net Profit of Rs 32.8 lakh in H1FY23 - growth of 286% Y-o-Y.
Sharing more details, Managing Director of the company, said "Company has reported excellent numbers for H1FY24. We feel proud to inform all our stakeholders that the company is progressing well on its long-term growth roadmap. Company is growing strength to strength, delivering robust operational and financial performance maintaining healthy growth in revenue, margins and profitability. We expect the growth momentum to continue and expect to get further boost in coming years."
In the month of September 2023 company acquired 100% shareholding of Multi-Specialty Management Services Pvt Ltd for Rs 66.24 crore by issuance and allotment of up to 1,47,21,000 fully paid-up equity shares of the Maagh Advertising each at a price of Rs 45. Pursuant to this acquisition Multi-Specialty Management Services Pvt has become the wholly owned subsidiary of Maagh advertising and Marketing Services Ltd.
Maagh Advertising and Marketing Services Ltd launched its public issue in September 2022 to fund its expansion plans including for buying media inventory, purchase of software and general corporate purpose. Company raised Rs 9.12 crore by issuing 15.20 lakh equity shares at Rs 60 per share. Share price of the company as on 30 November 2023 is Rs 88.90 per share. Company's share are listed on BSE SME exchange.
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