2:1 stock split & 2,000 per cent multibagger returns: This micro-cap company is into expansion of business and commences foundry facility at Jamnagar, Gujarat

The stock gave multibagger returns of 197 per cent in just 1 year and a whopping 2,000 per cent in 5 years.

Sprayking Limited, a prominent player in brass manufacturing, announced the launch of their new foundry division at their recently acquired facility in Jamnagar, Gujarat. This 3,000-square-meter facility marks a major milestone in Sprayking's expansion plans and signifies its commitment to growth and innovation. The foundry boasts an impressive production capacity of 200 tons of rods per month, solidifying Sprayking's position as a key regional player. This achievement reflects their dedication to meet evolving customer needs and expanding their market reach.

The investment in the state-of-the-art foundry underscores Sprayking's focus on innovation, efficiency, and sustainability. With a highly skilled workforce, the facility is primed to deliver high-quality products while upholding the highest safety and environmental standards. As Sprayking expands its operations, it remains committed to delivering value to all stakeholders. This new foundry represents a significant step forward, paving the way for continued growth and success.

Additionally, the Board of Directors of the company has approved a stock split of equity shares in the ratio 2:1 i.e., sub-division /split of each equity share having a face value of Rs 10 each, fully paid-up into 5 equity shares having a face value of Rs 2 each fully paid-up. The record date for the stock split is Friday, April 12, 2024.  

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Sprayking Ltd, founded in 1980, is a manufacturer of various brass components and parts, including fittings, equipment for forging, transformer parts, and custom-made brass items. They also produce copper forgings, agricultural sprayer parts, garden fittings, and more, and export their products to countries around the world.

The company has a market cap of Rs 235 crore. According to the Quarterly Results, net sales increased by 520 per cent to Rs 32.65 and net profit increased by 1,062 per cent to Rs 3.37 crore in Q3FY24 compared to Q3FY23.

Today, shares of Sprayking Ltd surged 0.16 per cent to Rs 222.75 per share with an intraday high of Rs 234.90 and an intraday low of Rs 222. The stock’s 52-week high is Rs 300.20 and its 52-week low is Rs 79.17. The stock gave multibagger returns of 197 per cent in just 1 year and a whopping 2,000 per cent in 5 years. Investors should keep an eye on this micro-cap stock.

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