1:3 bonus shares & stock split from Rs 10 to Re 1 in FY24: 6,400 per cent returns in this multibagger penny stock below Rs 30; Scrip up by 4.9 per cent today!

The stock gave multibagger returns of 835 per cent in 3 years & a whopping 6,400 per cent since its listing.

Today, the stock market started the day in green with the BSE Sensex Index up by 1.15 per cent and the NSE Nifty-50 Index up by 1.15 per cent. On the broader market, the indices were also trading in green with the BSE Mid-Cap Index up by 2.86 per cent and the BSE Small-Cap Index up by 3.32 per cent.

Along with the market in green, shares of Hardwyn India Ltd gained 4.9 per cent to Rs 29.40 per share from its previous closing of Rs 28.03. The stock’s 52-week high is Rs 57 and its 52-week low is Rs 26.10. The shares of the company saw a spurt in volume by more than 1.01 times.  

The company announced Quarterly Results (Q4FY24) and annual results (9MFY24) for the financial year 2023 – 2024. According to standalone quarterly results, the net sales increased by 23,6 per cent to Rs 36.94 crore in Q4FY24 compared to Q4FY23. The company reported a net profit of Rs 3.30 crore in Q4FY24. In its consolidated quarterly results, the company reported net sales of Rs 44.15 crore and net profit of Rs 3.33 crore in Q4FY24.

Looking at standalone annual results, the net sales increased by 8.35 per cent to Rs 135.50 crore and net profit increased by 8 per cent to Rs 9.75 per cent in FY24 over FY23. In its consolidated annual results, the company reported net sales of Rs 157.84 crore and net profit of Rs 10.23 crore in FY24.

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Hardwyn India Ltd.'s new subsidiary, Slim-X, aims to capture industry demand with its innovative ultra-slim, high-performance aluminium profiles. This wholly-owned subsidiary, backed by Hardwyn's architectural hardware expertise, targets Rs 100 crore in revenue in two years through its aesthetically pleasing, convenient, and long-lasting products, attracting architects, designers, builders, and contractors.

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 over Rs 1,000 crore.

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 stock gave multibagger returns of 835 per cent in 3 years & a whopping 6,400 per cent since its listing. Investors should keep an eye on this small-cap stock.

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