1,960 per cent returns in this multibagger stock; Board announces bonus shares!

The stock is up by 30 per cent in just 1 year and a whopping 1,960 per cent over the past 3 years.

Madhya Bharat Agro Products Ltd (MBAPL) informed that a meeting of the Board of Directors of our company has approved bonus shares in the ratio of 1:1 i.e., allotment of bonus shares in the ratio of 1 (One) new equity shares of Rs 10 each for every 1 (One) existing equity shares of Rs 10 each of the company held by the existing shareholders as on the record date fixed as Friday, October 20, 2023.

Also, the Board declared a final dividend of Rs 0.50 per share (i.e., 5 per cent) on the fully paid-up equity shares of Rs 10 each of the company for the year 2022-2023. The ex-date for the dividend was September 18, 2023.

On Tuesday, the shares of MBAPL gained 0.54 per cent to Rs 607 per share with an intraday high of Rs 618.90 and an intraday low of Rs 603. The shares of the company have an ROE of 46.5 per cent and a ROCE of 37.8 per cent.

Madhya Bharat Agro Products Ltd, part of Ostwal Group, is engaged in the business of manufacturing fertiliser and chemical products. The company has a market cap of Rs 2,666 crore with a 5-year stock price CAGR of 95 per cent.

The company reported positive numbers in its Quarterly Results and annual results. In FY23, net sales increased by 101 per cent to Rs 982 crore and net profit skyrocketed by 117.50 per cent to Rs 124 crore compared to FY22.

The stock is up by 30 per cent in just 1 year and a whopping 1,960 per cent over the past 3 years. Investors should keep an eye on this stock.

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