2:1 Bonus Share & 10:1 Stock Split: 13 consecutive upper circuits in this multibagger penny stock under Rs 5; PAT zooms over 1,200 per cent!

The stock gave multibagger returns of 222 per cent in 1 year and a whopping 7,625 per cent returns in 3 years.

Today, shares of Standard Capital Markets Ltd hit a 2 per cent upper circuit to Rs 3.09 per share from its previous closing of Rs 3.09 per share. The stock’s 52-week high is Rs 3.17 per share and its 52-week low is Rs 0.84 per share. In recent trading sessions, the stock has been hitting back-to-back upper circuits.

Established in 1987, Standard Capital Markets Ltd operates as a non-deposit, non-systemically important NBFC licensed by the Reserve Bank of India. Classified as an NBFC-Investment and Credit Company (NBFC-ICC), the company holds a market capitalisation of Rs 454.13 crore. It has achieved remarkable profit growth of 100 per cent CAGR over the last five years.

The company announced stellar Quarterly Results (Q3FY23) and nine months of results ended December 31, 2023. Here are the details: -

Quarterly Results: The net sales increased by 94.4 per cent to Rs 5.78 crore, operating profit increased by 243.7 per cent and net profit increased by 647.8 per cent to Rs 3.32 crore in Q3FY24 compared to Q3FY23.

Nine-Month Results: The net sales increased by 272.2 per cent to Rs 16.70 crore and net profit increased by 1,203 per cent to Rs 8.20 crore in nine months of results ended December 31, 2023 compared to nine months of results ended December 31, 2022.  

In its half-yearly results (H1FY24), the net sales surged 426 per cent to Rs 10.92 crore and net profit leapt 2,560 per cent to Rs 4.90 crore, year-over-year. The impressive trend extended to FY23, where net sales jumped 2,093 per cent to Rs 8.05 crore and net profit galloped 2,584 per cent to Rs 2.23 crore, compared to FY22.

The company is rewarding shareholders with a double bonanza: two bonus shares for everyone currently held, plus a ten-for-one stock split, effectively multiplying the number of shares each shareholder owns by fifteen. The ex-bonus & ex-split were executed Friday, December 29, 2023, shareholders will see their holdings significantly increased, though the overall value of their investment remains unchanged.

The company informed that the Board of Directors of the company at their meeting held today i.e., January 02, 2024, has allotted 98,00,02,000 fully paid-up bonus equity shares of Rs 1 each in the ratio 2:1 i.e., 2 equity shares of Rs 1 each for every 1 Equity Share of Rs 1 each held by the shareholders of the company as on the record date i.e. December 29, 2023. Paid-up share capital (Post-Bonus Issue) - 1,47,00,03,000.

The stock gave multibagger returns of 222 per cent in 1 year and a whopping 7,625 per cent returns in 3 years. Investors should keep an eye on this micro-cap stock.

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