Bharat Dynamics announces 2:1 stock split, interim dividend of Rs 8.85/share

The Board of Bharat Dynamics has approved to split its shares in the proportion of 2-to-1 as well as declare an interim dividend for the financial year 2023-24.

The record date for the split of equity shares shall be decided after obtaining approval from the shareholders through a postal ballot electronic voting process and will be intimated in due course.

The postal ballot notice along with the e-voting instructions will be sent only through e-mail to those shareholders who hold shares as of the cut-off date i.e., March 22, and whose email address is registered with the company's RTA.


A stock split is usually done to increase the liquidity of the stock in the market. On the ex-split date, investors who are holding the stock until the record date will receive the new shares in Demat accounts and the stock price will be adjusted according to the split ratio.

The Board approved the alteration of the capital clause of the Memorandum of Association of the company on account of a stock split.

Further, an interim dividend of Rs 8.85 per share will be paid to those shareholders who have ownership in the company as of the record date.

The record date for the same is set as April 02 to determine the eligibility of shareholders and the dividend will be paid on or before April 18.

The Board, at its meeting earlier today, has also approved the appointment of Gayatri Prasad, General Manager (Finance) as the Chief Financial Officer (CFO) of the company, consequent to a cessation of Srinivasulu as Director (Finance) and CFO on January 31.

Bharat Dynamics, based in Hyderabad, is a public sector undertaking under the Ministry of Defence that is aimed at being the manufacturing base for guided missile systems and allied equipment for the armed forces.

The company, since its inception, has been working in collaboration with DRDO and foreign original equipment manufacturers (OEMs) for the manufacture and supply of various missiles and allied equipment to Indian armed forces.

On Thursday, Bharat Dynamics shares closed 2.5% higher at Rs 1,660 on the NSE.