1:2 Stock Split: This Small-Cap Engineering Company Announces Record Date for Subdivision of Shares: Complete Details Inside
The company’s shares have delivered an impressive multibagger returns of over 850 per cent in just 3 Years.
Elecon Engineering Company incorporated in 1960, manufactures and sells power transmission and material handling equipment in India and internationally. Additionally, it engages in the steel and non-ferrous foundry business.
According to the press release, the company has fixed Friday, July 19, 2024, as the "Record Date" for determining the entitlement of equity shareholders for the purpose of the sub-division or stock split of existing equity shares of the company. Under this arrangement, 1 (one) equity share with a face value of Rs 2/- (Rupees two only) each, fully paid-up, will be subdivided into 2 (two) equity shares with a face value of Re. 1/- (Rupee one only) each, fully paid up.
Today shares of Elecon Engineering Company are currently trading at Rs 1354.65 per share on the BSE. The current market capitalization of the company stands at Rs 15199.17 crore. Additionally, the stock has delivered a multibagger return of around 113 per cent in the past 1 year.
As per Quarterly Results in Q4 FY24, Elecon Engineering Company reported a quarterly revenue from operation of Rs 565 crore compared to a revenue of Rs 425 crore, representing a growth on a YoY basis. The net profit of the company stood at Rs 104 crore in Q4 FY24 compared to a net profit of Rs 68 crore. Turning attention to the annual performance of the company, it reported a revenue of Rs 1937 crore, compared to Rs 1530 crore in FY23. Moreover, the company’s net profit stood at Rs 356 crore in FY24 compared to a profit of Rs 238 crore.
Regarding the shareholding pattern of Elecon Engineering Company, the promoters own 59.28 per cent of the company and the public or retail investors hold 30.84 per cent.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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