Low PE multibagger stock below Rs 50; Board likely to announce stock split!

The stock has a 52-week high of Rs 138 and a 52-week low of Rs 43.80 with a PE of 20.06x whereas the sectoral PE is 35.5x. 

Shree Ram Proteins Ltd informed that the Meeting of the Board of Directors will be held on Tuesday, April 04, 2023, inter-alia, to consider and approve the following business items: 1) To consider a proposal for split/sub-division of the Equity shares of the company having a face value of Rs 10 each, in such manner as may be determined by the Board of Directors, subject to regulatory/statutory approvals as may be required including the approval of the shareholders of the company. 2) Consider and discuss any other items as may be decided by the Board of Directors of the company.  

On Friday, shares of Shree Ram Proteins Ltd plunged 1.86 per cent upper circuit to Rs 50 per share from its previous closing of Rs 50.95 with an intraday high of Rs 52.45 and a low of Rs 48.65.   

The stock has a 52-week high of Rs 138 and a 52-week low of Rs 43.80. The stock gave multibagger returns of 100.01 per cent in just 3 years with a PE of 20.06x whereas the sectoral PE is 35.5x.  

Shree Rama Proteins Ltd is engaged in the business of edible oil and solvent extraction from various types of agro products. The company's product offerings include cotton linter, cotton seed meal, soybean meal, groundnut meal, raw cotton bales and others.   

According to the financials, Shree Ram Proteins has a market cap of Rs 107.10 crore. The company reported positive numbers in both Quarterly Results and annual results. In FY22, net sales rose by 88.25 per cent and net profit rose by 500 per cent compared to FY21.  

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