ITC’s Competitor to Announce 2:1 Bonus Shares: Scheduled Meeting on September 20 – Stock Delivered Way Better Returns Compared to ITC & FMCG Index!
The company’s shares have delivered an impressive multibagger return of over 240 per cent in just 1 year.
ITC’s peer company announced that a meeting of the Board of Directors of the Company is scheduled for Friday, 20th September 2024, to consider and recommend to the shareholders, for their approval, the issuance of bonus shares in the ratio of 2:1. This means 2 new fully paid-up equity shares of Rs. 2 each will be issued for every 1 existing fully paid-up equity share of Rs. 2 each, by capitalizing the company's reserves.
Godfrey Phillips India is a Small-Cap FMCG company and it is the flagship company of the KK Modi Group. It has many iconic cigarette brands, including Four Square, Red & White, and Cavanders. It also has an exclusive sourcing and supply agreement with Philip Morris International to manufacture and distribute the renowned Marlboro brand in India.
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On Friday, the shares of Godfrey Phillips India closed at around Rs 7204.35 per share on the BSE. The company’s current market capitalization stands at Rs 37,458 crore. Additionally, the shares have delivered an impressive return of over 240 per cent in the past 1 year.
ITC Ltd has delivered a 12 per cent return in the last year, whereas Godfrey Phillips has provided a multibagger return of over 240 per cent during the same period.
As per the Quarterly Results, in the Q1 FY25, Godfrey Phillips India recorded a revenue of Rs 1170 crore compared to Rs 1046 crore. The operating profit stood at Rs 266 crore. The net profit stood at Rs 229 crore compared to a profit of Rs 254 crore. Looking at the annual performance, the company generated a revenue of Rs 4420 crore in FY24 compared to Rs 3562 crore representing a gain of 24 per cent. The operating profit for FY24 was Rs 892 crore with an operating profit margin of 20 per cent. The company reported a net profit of Rs 884 crore compared to a net profit of Rs 690 crore in FY23.
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Investors must keep this stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.