Multibagger in just 1 year; Board announced bonus shares!

Multibagger in just 1 year; Board announced bonus shares!

Kiran Shroff

The shares of the company have a PE of 14.30x, a ROE of 22 per cent and a ROCE of 25 per cent.

Shriram Pistons & Rings Ltd informed that the meeting of the Board of Directors of the company approved bonus equity shares in the proportion of 1 new fully paid-up bonus equity share of Rs 10 each for every 1 existing fully paid-up equity share of Rs 10 each held by them and that the new bonus equity shares so issued and allotted shall, for all purposes, be treated as an increase in the paid-up share capital of the company held by each such member as of record date. The company will hold a meeting on Tuesday, June 06, 2023 and finalise the record date for the bonus issue.

Shriram Pistons & Rings Ltd is primarily engaged in the manufacturing of pistons, piston pins, piston rings and engine valves for various automotive companies in the domestic and export markets.

According to the Quarterly Results, the net sales increased by 19.37 per cent to Rs 701.01 crore and net profit increased by 81.42 per cent to Rs 91.38 crore in Q4FY23 over Q4FY22. The net sales increased by 26.38 per cent to Rs 2,609.33 crore and net profit increased by 79.67 per cent to Rs 293.88 crore in FY23 over FY22. The EPS for FY23 stood at Rs 133.27.

Want more insightful stories along with recommendations?
Get a 3-month subscription to experience the power of our flagship DSIJ Magazine (online edition) for just Rs 800/-  Click here to subscribe now

After rising nearly 150 per cent over the period of 6 months, shares of Shriram Pistons & Rings Ltd are undergoing a correction and have hit the lower circuit for the second straight day. On Friday, shares of Shriram Pistons & Rings Ltd plunged 5 per cent lower circuit to Rs 1,890.25 per share from its previous closing of Rs 1,989.70. The stock traded at an intraday high of Rs 1,985 and an intraday low of Rs 1,890.25.

The shares of the company have a PE of 14.30x, a ROE of 22 per cent and a ROCE of 25 per cent. Investors should keep an eye on this Small-Cap multibagger stock.  

Previous Article Nifty and Sensex hit 52-week highs: Watch out for these small-cap stocks that delivered multibagger returns in just 1 month!
Next Article Stocks to watch: These small-cap stocks will be in focus on Monday!
Rate this article:
3.8

DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR