Mukul Agrawal’s & Sanjiv Shah’s portfolio multibagger stock announces stock split for the first time and Rs 12.5/ share dividend!

The stock gave multibagger returns of over 200 per cent in just 1 year whereas BSE Small-cap Index is up by 35.5 per cent.

Pearl Global Industries Ltd inform that the Board of Directors of the company has approved the sub-division/ split of equity shares of the company from a face value of Rs 10 each to Rs 5 each, subject to the approval of the members. The record date for the stock split will be intimated in due course subject to compliance with necessary laws.  

Additionally, the company declared a Second interim dividend (Special dividend) of Rs 12. 5/ equity share i.e., 125 per cent on face value of Rs 10 each for the financial year 2023-24 considering the continuously improved business performance of the entire group over the last few quarters. The record date for the dividend is fixed on Wednesday, November 22, 2023.

According to the Quarterly Results, the net sales increased by 11.7 per cent to Rs 960.6 crore and the net profit increased by 50.5 per cent to Rs 38.96 crore in Q2FY24 compared to Q2FY23 while according to half-yearly results, the net sales increased by 8.4 per cent to Rs 1,854.8 crore and the net profit increased by 38.7 per cent to Rs 86.32 crore in H1FY24 compared to H1FY23

Capex Plan: Pearl GT Holdco Ltd will incur a capex of up to USD 2 million in the subsidiary to expand the capacity up to 12 lines which shall generate an annual revenue of USD 20 million by manufacturing for their prestigious customers.

Pearl Global Industries Ltd. (PGIL) is a multinational garment exporter that was incorporated in India in 1987. The company manufactures a wide range of knitwear, womenswear, and bottoms for men, women, and children. PGIL has manufacturing facilities in multiple sourcing regions within India and South Asia. The company has a market cap of over Rs 2,700 crore and has delivered good profit growth of 45 per cent CAGR over the last 5 years.

Today, shares of PGIL gained 1.06 per cent to Rs 1,270 per share with an intraday high of Rs 1,270 and an intraday low of Rs 1,250. Two prominent investors hold substantial stakes in the company as of September 30, 2023. Sanjiv Dhireshbhai Shah holds 7.62 per cent of the company's shares, while Mukul Agrawal holds 3.46 per cent.

The stock gave multibagger returns of over 200 per cent in just 1 year whereas BSE Small-Cap Index is up by 35.5 per cent. Investors should keep an eye on this small-cap stock.

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