VSL Finance to buy back 33 lakh shares worth ₹125 crore at ₹380 per share

VSL Finance has informed the stock exchanges that the company's board of directors has decided to buy back 33 lakh shares worth ₹125 crore at ₹380 per share. In its release dated August 28, the company informed the exchanges that it has submitted a 'Letter of Offer' with regards to the buyback first proposed on August 13.

As per the statement, VSL Finance will buyback up to 33,00,000 (33 lakh) fully paid-up equity shares with a face value of ₹10 each for an aggregate maximum amount not exceeding ₹1,25,40,00,000 or ₹125.40 crores. This is 9.48 per cent of the total paid-up equity share capital at a price of ₹380 per equity share.

The Buyback is proposed to be made from the company's existing shareholders as of the record date on a proportionate basis through the "Tender Offer" route.

Details of Buyback

• Date of opening of Buyback: Friday, August 30, 2024
• Date of closing of Buyback: Thursday, September 05, 2024
• Last date of receipt of completed Tender Forms and other specified documents by the Registrar to the Buyback: By 5 pm on Thursday, September 5, 2024
• Last date of intimation to the Designated Stock Exchange regarding Acceptance/non-acceptance of the tendered Equity Shares by the Registrar: Thursday, September 12, 2024
• Last date of payment of consideration to Eligible Shareholders who participated in the Buyback: Friday, September 13, 2024

VLS Finance Q1 Results: Profit Rise by 1.4% YoY

VLS Finance declared its Q1 results on August 9. The company's top line increased by 16.74 per cent year-over-year (YoY), while the profit registered a modest rise of 1.4 per cent YoY. Compared to the previous quarter, the revenue grew significantly by 32.87 per cent, and the profit surged by 25.9 per cent.

The company's Selling, General & Administrative (SG&A) expenses saw a substantial increase, rising by 22.42 per cent quarter-over-quarter (QoQ) and 28.13 per cent YoY. Despite these rising expenses, VLS Finance managed to maintain strong operating performance.

Operating income for VLS Finance was up by 37.03 per cent QoQ and increased by 17.51 per cent YoY, indicating robust business operations and efficient cost management. The Earnings Per Share (EPS) for Q1 stood at ₹26.8, reflecting a 2.02 per cent increase YoY.

In terms of market performance, VLS Finance has delivered 19.9 per cent returns over the last six months, and an impressive 58.87 per cent year-to-date (YTD). Currently, VLS Finance boasts a market capitalisation of ₹1124.95 crore, with a 52-week high of ₹337.15 and a low of ₹174.