500 per cent returns: Board announced bonus issue of equity shares and stellar dividend!

500 per cent returns: Board announced bonus issue of equity shares and stellar dividend!

Praveenkumar Yadav
/ Categories: Trending, Mindshare

Shares of this company have gained more than 70 per cent in the last six months.

Thangamayil Jewellery Limited informed in the exchange filing that the company’s board has approved the bonus issue of equity shares in a ratio of 1:1, one equity share for every one equity share held on the record date. The board has fixed the record date for issuing bonus shares as 17.07.2023 (Monday). The board of the company has also recommended a final dividend of Rs 6.00 per share with a face value of Rs 10 (60 per cent) each on equity shares.

The company posted impressive Quarterly Results. In Q4FY23, the revenue of the company stood at Rs 769.73 crore which grew by 26.45 per cent YoY. The operating profit of the company stood at Rs 58.72 crore, which grew by 179.75 per cent YoY, while the PAT of the company grew by 288.85 per cent YoY, staying at Rs 31.03 crore.

Thangamayil Jewellery Limited operates a chain of retail jewellery stores across several districts in Tamil Nadu, a state that has the largest share (40%) of India's total gold consumption. The company primarily deals with four product lines, i.e., Gold, Silver, Diamonds and Platinum; the sale of gold being a predominant source of its income.

Furthermore, Thangamayil Jewellery Limited has delivered multibagger returns to its shareholders. During this period, shares of Thangamayil Jewellery Limited surged from Rs 265.75 on July 10, 2020, to Rs 1635.70 on July 07, 2023, an increase of about 500 per cent in a three-years holding period. And investors should keep a close eye on this stock.

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