10,375 per cent returns: This multibagger hardware & glass fitting company reports positive Q2FY24 and H1FY24 results after bonus shares & stock split!

The stock gave multibagger returns of 815 per cent in just 2 years, 2,350 per cent in 3 years & a whopping 10,375 per cent in 3 years.

Hardwyn India Ltd, a leading trader and manufacturer of architectural hardware and glass fittings, announced its Quarterly Results (Q2FY24) and half-yearly results (H1FY24) for the fiscal year 2024. Here are the details:

Quarterly Results: The net sales increased by 4.22 per cent to Rs 36.34 crore, operating profit increased by 8.38 per cent to Rs 2.16 crore and net profit increased by 15.74 per cent to Rs 1.35 crore in Q2FY24 compared to Q2FY23.

Half-yearly Results: The net sales increased by 5.03 per cent to Rs 63.50 crore, operating profit increased by 10.6 per cent to Rs 3.81 crore and net profit increased by 15.42 per cent to Rs 2.35 crore in H1FY24 compared to H1FY23.

Earlier, the company implemented a trading phase where ex-bonus shares were traded at a ratio of 1:3 and an ex-stock split took place at a ratio of 10:1 for the equity shareholders based on the record date. The company has set Monday, June 05, 2023, as the fixed record date for both the bonus share and stock split.

The company has taken two major steps to expand its operations: it has incorporated a new subsidiary, SLIMX INTERIOR SOLUTIONS PRIVATE LIMITED, and it had drafted a scheme of amalgamation with FIBA HARDWYN LOCKS LIMITED, a manufacturer of fabricators, cutters, and molders for the hardware industry.

The new subsidiary will allow the company to expand into the interior solutions market, while the amalgamation with FIBA HARDWYN LOCKS LIMITED will give the company access to new products and technologies in the hardware industry. These two initiatives demonstrate the company's commitment to growth and its ambition to become a leading player in the interior solutions and hardware industries.

Hardwyn India Ltd, listed on both BSE and NSE, specializes in manufacturing architectural hardware and glass fittings for residential and commercial structures, providing comprehensive solutions. The company boasts a market capitalization of Rs 1,313.2 crore.

Today, shares of Hardwyn India Ltd gained 1.12 per cent to Rs 37.84 per share with an intraday high of Rs 38.29 and an intraday low of Rs 37.05. The stock’s 52-week high is Rs 57 and its 52-week low is Rs 13.44.

The stock gave multibagger returns of 815 per cent in just 2 years, 2,350 per cent in 3 years & a whopping 10,375 per cent in 3 years. Investors should keep an eye on this Small-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.