9:1 Bonus Issue: Ashish Kacholia-Backed Small-Cap Company Reports Stellar Quarterly Results, Profit Surges by Over 400 Per cent – Stock Hits Upper Circuit Today
The company’s shares have delivered a multibagger return of around 300 per cent in the last 1 years.
Ashish Kacholia-backed firm Bengal Finance and Investment Pvt Ltd's portfolio company has announced stellar results. Following the announcement the company’s shares have rallied and hit the upper circuit today.
Sky Gold Ltd is engaged in the business of designing, manufacturing, and marketing gold jewellery. The co. follows a B2B model where the products are mainly sold to mid-range jewellers and boutique stores that sell these products through online platforms and retail stores.
Financial Performance
As per Quarterly Results, Sky Gold Ltd in Sep 2024 reported a revenue of Rs 717 crore compared to Rs 396 crore representing a growth of around 81 per cent YoY. The company posted an operating profit of Rs 37 crore with a margin of around 5 per cent compared to Rs 15 crore with a margin of 4 per cent. The company’s net profit stood at Rs 36 crore for the period compared to a profit of Rs 7 crore same quarter last year.
Looking at the annual performance, the company generated a revenue of Rs 1745 crore in FY24 compared to Rs 1154 crore in FY23 representing a growth of 51 per cent YoY. The operating profit for FY24 was Rs 77 crore compared to Rs 37 crore in FY23. The company reported a net profit of Rs 40 crore compared to Rs 19 crore.
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On October 26, Sky Gold announced that its board had approved a bonus share issuance in a 9:1 ratio. This meant that eligible shareholders would receive nine new bonus equity shares of Rs 10 each for every existing equity share of Rs 10 they held, with the record date to be announced later. Previously, the company had issued bonus shares at a 1:1 ratio in 2022, granting one free share for each share held.
Share Performance
At the start of the day's trading session, the stock opened at Rs 3259.20 per share, compared to the previous day's closing figure of Rs 3104 per share on the BSE. Today the shares rallied and hit the upper circuit and finally, the shares closed at Rs 3259.20 per share. The company's current market capitalization stands at Rs 4776.03 crore, and the stock has generated an impressive multibagger return of over 300 per cent in the past 1 year.
According to the shareholding pattern of Sky Gold, promoters own a 58.24 per cent stake, while public investors hold 34.07 per cent. Foreign Institutional Investors (FIIs) hold 1.38 per cent and DIIs own 6.31 per cent respectively. Bengal Finance And Investment Pvt Ltd holds around 1.76 per cent stake in the company.
Disclaimer: The article is for informational purposes only and not investment advice.