Multibagger penny stock below Rs 20; Board announces rights issue worth Rs 49,90,00,000 after bonus shares!

The shares of the company have a PE of 8.38x whereas the industry PE is 30.8x with an ROE of 17.5 per cent and an ROCE of 20.9 per cent.

SecUR Credentials Ltd informed that the Board of Directors of the company has approved the rights issue of equity shares for an amount aggregating up to Rs. 49,90,00,000 or Rs 49.90 crore. The company has not disclosed the rights issue price, ratio, opening & closing dates, etc yet.

Earlier, the stock ex-traded bonus shares in the ratio of 3:1 which had the record date as April 01, 2023.

On Monday, shares of SecUR Credentials Ltd plunged 2.36 per cent to Rs 16.11 per share with an intraday high of Rs 16.80 and an intraday low of Rs 16.05.

SecUR Credentials Ltd is India’s first and only listed, employee background check company. Supported by state-of-the-art technology, our services have been integrated into HR systems for over 1000 large companies across sectors. According to the company reported amazing numbers in its Quarterly Results (Q1FY24) and annual results (FY23). In FY23, the net sales decreased by 2.57 per cent to Rs 50.01 crore while the net profit skyrocketed by 280 per cent to Rs 7.79 crore compared to FY22.  

The shares of the company have a PE of 8.38x whereas the industry PE is 30.8x with an ROE of 17.5 per cent and an ROCE of 20.9 per cent. The stock is up by 18.64 per cent in 1 year and gave multibagger returns of over 850 per cent in 3 years. Investors should keep an eye on this micro-cap stock.

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