1:2 bonus shares & multibagger penny stock below Rs 25: This micro-cap company bags new order worth Rs 70,00,000 from India Tourism Development Ltd

The stock is up by 83 per cent from its 52-week low of Rs 11.90 per share and gave multibagger returns of 1,468 per cent in 3 years. 

SBC Exports Limited has received a five-month extension on an existing contract with India Tourism Development Corporation Ltd. The total value of the contract remains Rs 70,00,000 (Rupees Seventy Lakhs Only). This announcement complies with SEBI regulations. Key details of the contract include adherence to India Tourism Development Corporation Ltd.'s standard terms and conditions, completion upon contract expiration, and a prohibition on subcontracting. The contract represents the domestic hiring of technical and non-technical personnel for a period of 5 months.

Additionally, the shares of the company ex-traded bonus shares in the ratio 1:2 i.e., 1 equity share for every 2 equity shares held by the existing equity shareholder of the company. The ex-record date was January 19, 2024. Pre-Bonus Issue Paid-up Share Capital – 21,16,40,000 Post Bonus Issue Paid-up Share Capital – 31,74,60,000.

Today, shares of SBC Exports Ltd gained 1.48 per cent from their previous closing of Rs 21.01 per share to Rs 21.32 per share with an intraday high of Rs 21.79 and an intraday low of Rs 21.14.

SBC Exports Ltd was incorporated in 2011 with a market cap of Rs 677 crore. It is engaged in the trading & manufacturing of garments, manpower supply services and tour operator services. Currently, the company has 70 distributors in India and receives an average of 75 new projects every year. 

The net sales increased by 0.15 per cent to Rs 47.81 crore and net profit increased by 22 per cent to Rs 2.84 crore in Q3FY24 compared to Q3FY23. The net sales increased by 8 per cent to Rs 222 crore and net profit skyrocketed by 133.33 per cent in FY23 over FY22. The stock is up by 83 per cent from its 52-week low of Rs 11.90 per share and gave multibagger returns of 1,468 per cent in 3 years. 

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