750 per cent returns in this multibagger penny stock under Rs 60; Board announces bonus shares; PAT zooms over 60 per cent!

The stock gave multibagger returns of over 750 per cent in 3 years whereas BSE Sensex Index is up by 54.6 per cent.

Shreeji Translogistics Limited (STL) one of the large integrated national logistical solution providers in India, informed that the company proposes to reward shareholders with a 1:3 bonus share issue, granting one new share for every three existing shares held, and to increase its authorized share capital from Rs 10.5 crore to Rs 14 crore, both subject to shareholder approval.

This move indicates the company's confidence in its future growth and aims to enhance shareholder value through increased liquidity and potentially higher stock prices. The estimated date by which such bonus shares would be credited is within 2 months from the date of approval of the Board i.e., on or before February 202, 2024.

Earlier, the company ex-traded stock split wherein it will be converting equity shares with a face value of Rs 10 each into 5 equity shares with a face value of Rs 2 each. The ex-record date for the stock split was Wednesday, February 15, 2023.

Additionally, Shreeji Translogistics (STL) is expanding its services to offer steel material handling at railway sidings, optimizing transportation and saving costs for clients. They've also opened a new branch in Indore to tap into the growing demand for logistics solutions in central India. These moves aim to solidify STL's position as a comprehensive logistics provider with wider reach and capabilities.

On Friday, shares of Shreeji Translogistics Ltd surged 8.15 per cent to an intraday high of Rs 59.55 per share. At the closing bell, shares of the company were trading at Rs 58.09, up 5.50 per cent.

According to the financials, the company has a market cap of over Rs 300 crore and has delivered good profit growth of 25.8 per cent CAGR over the last 5 years. The company's Quarterly Results for Q2FY24 show strong growth across all key financial metrics. Revenue from operations grew by 33 per cent to Rs 65.45 crore, EBITDA grew by 43 per cent to Rs 8.21 crore, and PAT grew by 67 per cent to Rs 4.85 crore, all compared to the same period in the previous financial year.

The stock gave multibagger returns of over 750 per cent in 3 years whereas BSE Sensex Index is up by 54.6 per cent. Investors should keep an eye on this micro-cap stock.

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