1,700 per cent returns in 3 years; Board announced bonus shares and stellar quarterly results!

Shares of this company have gained more than 120 per cent in the last six months.

Shilchar Technologies Limited informed in the exchange filing that the company’s board has approved and recommended the issue of equity bonus shares in proportion of 1:1 i.e., 1 (One) equity share of Rs 10.00 each for every 1 (One) existing equity share of Rs 10.00 each held by the shareholders of the company as on record date. The company informed in the exchange filing the record on 6th September 2023.

The company also announced a capex of Rs 10,00,00,000 for the expansion of production facilities from 4000 MVA TO 5000 MVA by extension of the existing shop floor for manufacturing of Distribution and Power Transformers.

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In the recent quarter, the company posted strong Quarterly Results. The revenue of the company for Q1FY24 stood at Rs 67.22 crore which grew by 17.41 per cent on a YoY basis. The operating profit of the company stood at Rs 22.48 crore, while the PAT of the company stood at Rs 16.38 crore, representing an impressive growth of 181.8 per cent YoY.

Shilchar Technologies is engaged in the business of manufacturing Electronics and telecom and Power and distribution transformers. The company has recently ventured into the manufacturing of Ferrite transformers.

Shilchar Technologies Limited have delivered multibagger returns to its shareholders in the last three years. During this period, shares of Shilchar Technologies surged from Rs 159.60 on August 28, 2020, to Rs 2905.35 on August 25, 2023, an increase of about 1,700 per cent in three years holding period.

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