After a robust 96 per cent rise in net profit, this small-cap stock is in the spotlight ahead of stock split!

The company has set September 11, 2023, as the record date for determining the eligibility of shareholders with regards to the split of its existing equity shares.

In the recent trading session, Indian benchmark indices ended considerably higher, making significant strides toward reaching their new 52-week highs on the bourses. The BSE Sensex gained 0.50 per cent to 66,598 level at the close. The Nifty 50 index surged 0.47 per cent to a level of 19,819.

ADF Foods Ltd, a Small-Cap company engaged in the production of packaged foods, is poised to attract attention as its shares will trade ex-split in tomorrow's trading session.

The company has set September 11, 2023, as the record date for determining the eligibility of shareholders with regards to the subdivision/split of its current equity shares. This split will result in a ratio of 5 equity shares with a face value of Rs 2 each for every 1 existing equity share with a face value of Rs 10 each, as approved by the shareholders of the company.

The company's robust quarter performance for the quarter ending in June 2023 has already impressed investors. Taking into account the quarterly performance, on a consolidated basis it reported a healthy growth of 15.66 per cent from Rs 97.20 crore registered in Q1FY23, recording total revenue of Rs 112.42 crore in Q1FY24.

It has reported strong operating profit growth of 84.11 per cent. Comparing to the same quarter last year, the net profit for the first quarter of FY24 skyrocketed 96.13 per cent, from Rs 7.67 crore to Rs 15.04 crore. The shares have delivered stellar returns of around 58 per cent in the past six months and are currently trading at Rs 1,137, with a 52-week high of Rs 1,189 per share on the BSE.

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