Low PE high ROE stock at Rs 120 per share; Board to approve bonus shares and fix the record date

The stock is up by 17.64 per cent from its 52-week low of Rs 110.90 per share and down by 22.58 per cent from its 52-week high of Rs 155 per share.

Sunrise Efficient Marketing Ltd informed that a meeting of the Board of Directors of the company is scheduled to be held on Tuesday, February 27, 2024, at the registered office. The agenda of the Meeting inter alia includes:

1. Discussion and approval of the proposed increase in the company's authorized capital.
2. Decision on the issuance of bonus shares to the company's equity shareholders, subject to their approval.
3. Fix the date, time, and venue for an Extraordinary General Meeting (EOGM) and review the draft notice for circulation to members.
4. Decide the book closure date and voting cutoff date for both the bonus issue and other corporate matters.
5. Consider the appointment of M/s Dhirren R. Dave & Co., Practicing Company Secretaries, as scrutineers for the EOGM's voting process.
6. Address any additional matters under the discretion of the chair.

Sunrise Efficient Marketing Ltd. engages in the provision of electrical, mechanical, and automation solutions. It offers motors, gearbox, lubricants, lightings, drives, pumps, and panels. It also offers motor rewinding process that include record pertinent data, remove faulty winding, steam clean the stator and paint with insulation paint, add lacing, and cure the motor, and test.

Earlier, Sunrise Efficient Marketing Ltd, having established a strong presence in the Industrial Oil & Lubricants market, has rapidly ascended to the No. 2 position nationally within M/s Gulf Ltd in just 6 - 7 years. Building on this success, SEML has expanded its portfolio by venturing into the Automotive Oil Segment in response to India's position as the world's third-largest automobile market, with projections to become the largest by 2028 according to Mr. Nitin Gadkari.

To spearhead this new venture, SEML has appointed a seasoned executive with 25 years of experience in the Surat, Navsari, and Tapi areas. With plans to strategically distribute GS Caltex products to approximately 1000 retailers and 500 workshops, SEML aims to leverage its infrastructure to attract partnerships with other leading automotive companies for genuine spare parts distribution, further bolstering the growth of its automotive division and contributing to SEML's overall expansion.

The company has a market capitalization of Rs 120 crore with a current stock price of Rs 120. Its stock has experienced a high and low of Rs 155 and Rs 102, respectively. The stock's price-to-earnings (P/E) ratio stands at 12.1x. The company's return on capital employed (ROCE) is 39.1 per cent, and its return on equity (ROE) is 40.6 per cent.

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