8,200 per cent returns: Multibagger penny stock under 5 hit back-to-back upper circuits & 52-week highs; Board mulls preferential debenture issue post bonus shares & stock split!

The stock gave multibagger returns of 190 per cent in 1 year and a whopping 8,200 per cent returns in 3 years.

Today, shares of Standard Capital Markets Ltd hit a 2 per cent upper circuit to Rs 3.32 per share from its previous closing of Rs 3.26 per share. The stock also made a fresh new 52-week high is Rs 3.32 per share and its 52-week low is Rs 0.84 per share. In recent trading sessions, the stock has been hitting back-to-back upper circuits & 52-week highs.

Established in 1987, Standard Capital Markets Ltd operates as a non-deposit, non-systemically important NBFC licensed by the Reserve Bank of India. Classified as an NBFC-Investment and Credit Company (NBFC-ICC), the company holds a market capitalisation of Rs 488 crore. It has achieved remarkable profit growth of 100 per cent CAGR over the last five years.

The company inform you that a meeting of the Board of Directors will be held on Thursday, January 18, 2024, inter-alia, to consider and approve the proposed issue of non-convertible debentures (NCDs) on preferential basis by way of private placement in compliance with applicable provisions of the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021, SEBI LODR Regulations as amended from time to time.

Results

Quarterly Results: The net sales increased by 94.4 per cent to Rs 5.78 crore, operating profit increased by 243.7 per cent and net profit increased by 647.8 per cent to Rs 3.32 crore in Q3FY24 compared to Q3FY23.

Nine-Month Results: The net sales increased by 272.2 per cent to Rs 16.70 crore and net profit increased by 1,203 per cent to Rs 8.20 crore in nine months of results ended December 31, 2023 compared to nine months of results ended December 31, 2022.  

In its half-yearly results (H1FY24), the net sales surged 426 per cent to Rs 10.92 crore and net profit leapt 2,560 per cent to Rs 4.90 crore, year-over-year. The impressive trend extended to FY23, where net sales jumped 2,093 per cent to Rs 8.05 crore and net profit galloped 2,584 per cent to Rs 2.23 crore, compared to FY22.

Earlier, on December 29, 2023, the company showered shareholders with a double bonanza: two bonus shares for each held, followed by a ten-for-one stock split, effectively multiplying their holdings fifteenfold. While the ex-bonus and ex-split dates marked a significant increase in shares for each investor, the total value of their investments remained unchanged. This decision, announced by the Board of Directors on January 2, 2024, involved allotting 98,00,02,000 bonus shares in the ratio of 2:1, resulting in a post-bonus issued paid-up share capital of Rs 1470 crore.

The stock gave multibagger returns of 190 per cent in 1 year and a whopping 8,200 per cent returns 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.