Mukul Agrawal gains Rs 17,14,56,000 & Madhusudhan Kela gains Rs 11,43,04,000 from this multibagger stock: Board announces bonus shares & stock split; PAT zooms over 7,900 per cent!

The stock gave multibagger returns of 2,352 per cent in just 1 year and a whopping 11,300 per cent in 3 years.

Indian stock markets ended the trading sessions in green today (January 09, 2023), with the BSE Sensex Index up 0.04 per cent at 71,386.21 and the NSE Nifty-50 Index up 0.15 per cent at 21,544.85. About 2,244 shares have advanced, 1,603 have declined and 97 were unchanged on BSE.

Along the market in green, this multibagger civil construction stock was locked in a 2 per cent upper circuit to Rs 10,715.20 per share. The stock also made a new 52-week high of Rs 10,715.20 per share.

The stock name is SG Mart Ltd. The company provides renewable energy generation services. The company operates solar and wind energy projects and generates electric power. SG Mart serves customers in India. The stock gave multibagger returns of 2,352 per cent in just 1 year and a whopping 11,300 per cent in 3 years.

The Board of Directors of the company approved a 10:1 stock split (reducing the face value from Rs 10 to Rs 1 each) and a 1:1 bonus issue (one bonus share for each existing share, post-split) for eligible shareholders, subject to future shareholder and regulatory approvals. The company did not fix the record date for bonus shares and stock split.

Additionally, the company announced stellar Quarterly Results and nine-month results. According to its quarterly results, net sales increased by 47,865 per cent to Rs 748.26 crore in Q3FY24 over Q3FY23. The company reported a net profit of Rs 17.19 crore in Q3FY24 compared to Rs Nil in Q3FY23.

In its nine-month results, the net sales increased by 89,987 per cent to Rs 1,405.36 crore and net profit increased by 7,956 per cent to Rs 27.39 crore compared to last year.  

Earlier, two ace investors, Mukul Agrawal bought 30,000 shares and Madhuri Madhusudhan Kela bought 20,000 shares via preferential issue of shares of the face value of Rs 10 each at an issue price of Rs 5000 per equity share. Along with them, there were 88 other non-promoters which included individuals, DIIs, FPIs and FIIs were allocated the shares. The preferential issue was a total of 15,77,000 shares aggregating to Rs 788.50 crore.

Therefore, Mukul Agrawal gains Rs 17,14,56,000 [30,000 shares x (Rs 10,715.2 – Rs 5,000) per share] & Madhusudhan Kela gains Rs 11,43,04,000 [20,000 shares x (Rs 10,715.2 – Rs 5,000) per share] from this multibagger stock. As of September 2023, promoters own a 75 per cent stake in the company and the rest of the stake is owned by the general public i.e., 25 per cent.

Do you own SG Mart Ltd.’s stock in your portfolio? Do let us know in the comments below

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