2,400 per cent multibagger returns: Board announces stock split of equity shares; PAT zooms over 1,000 per cent!
The stock gave multibagger returns of 600 per cent in just 1 year and a whopping 2,400 per cent in 3 years.
Sprayking Limited, a brass manufacturer, is excited to announce a stock split that will reduce the face value of its shares from 10 to 2, which will divide 1 existing share with a face value of 10 into 5 shares with a face value of 2 each (subject to necessary approvals). This proactive step aims to enhance shareholder value, boost market liquidity, and reflect the company's robust financial performance and optimism about future growth. This move aligns Sprayking's capital structure with market dynamics and positions the company to capitalize on future opportunities driven by its innovation, partnerships, and dedication to customers.
Sprayking Limited, previously Sprayking Agro Equipment Limited, has rebranded to reflect the company's expanding market focus and product offerings. Established in 2005, Sprayking Limited specializes in manufacturing various brass components and parts, including fittings, forging equipment, and transformer parts. They also excel in copper forging products and serve an international clientele across the USA, Europe, Australia, Canada, South Africa, UAE, and India with their agricultural sprayer parts, garden fittings, extruded brass rods, and specialized brass fittings. Sprayking Limited emphasizes quality craftsmanship and design in its diverse range of brass and copper products.
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Sprayking Limited is expanding both organically and inorganically to achieve its vision. They recently purchased a new 3,000 square meter manufacturing facility in Jamnagar, Gujarat, to produce brass and forging components, similar to their existing facility. This expansion is furthered by their acquisition of a 51 per cent stake in Narmada Brass Industries, a company founded in 2019 with a 2,000-ton annual forging capacity, allowing Sprayking to fulfil new domestic and international orders.
The company has a market cap of Rs 279 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 plunged 0.64 per cent to Rs 262.35 per share with an intraday high of Rs 273 and an intraday low of Rs 260. The shares of the company saw a spurt in volume by more than 1.42 times on BSE. The stock’s 52-week high is Rs 300.20 and its 52-week low is Rs 41.79. The stock gave multibagger returns of 600 per cent in just 1 year and a whopping 2,400 per cent 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.
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