2:1 Stock Split Announced by this Jindal Group Company; Promoters, FIIs and DIIs Increased Stake in Q1 FY25!
The company’s shares have delivered an impressive return of over 125 per cent in the past 1 year.
Jindal Saw Ltd manufactures LSAW pipes, HSAW pipes, DI pipes, seamless pipes, and pellets. Jindal Saw Ltd is the market leader in manufacturing large-diameter Submerged Arc Welded (SAW) pipes, with a capacity of 2.13 million MTPA, using U-O-E, J-C-O, and Helical processes. The SAW pipes are primarily used for the transportation of oil, gas, slurry, and water.
The Board of Directors, in their meeting held on August 23, 2024, approved the stock split, subject to shareholder approval. The alteration of the company's equity share capital by sub-dividing/splitting the existing equity shares with a face value of Rs 2 each, fully paid up, into shares with a face value of Re 1 each, fully paid up.
On Friday the shares of Jindal Saw Ltd closed at around Rs 689.85 per share. The company’s current market capitalization stands at Rs 22058 crore. The stock has delivered a multibagger return of over 720 per cent in just 2 years.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
As per the Quarterly Results, in Q1 FY25, Jindal Saw Ltd recorded a revenue of Rs 4939 crore. The operating profit for Q1 FY25 stood at Rs 840 crore. The net profit for Q1 FY25 was Rs 416 crore. Looking at the annual performance, the company generated a revenue of Rs 20958 crore in FY24, compared to Rs 17868 crore in FY23. The operating profit for FY24 was Rs 3326 crore, with a net profit of Rs 1593 crore compared to the price of Rs 452 crore representing a growth of over 250 per cent YoY.
Promoter stake increased from 63.27 per cent to 63.29 per cent, FIIs from 14.66 per cent to 15.06 per cent, and DIIs from 2.99 per cent to 3.87 per cent in Q1 FY25.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.