Multibagger penny stock below Rs 50 with Rs 921.4 crore order book; Board announces rights issue; PAT zooms 149 per cent!
The stock gave multibagger returns of 225 per cent in just 1 year, 330 per cent in 2 years and a whopping 4,650 per cent in 3 years.
Lloyds Engineering Works Limited, a leader in engineering solutions, announced a rights issue to raise up to Rs 9,990 lakh. The Board of Directors approved the issue offering fully paid-up equity shares to eligible existing shareholders.
Details of Rights Issue
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Information on Rights Issue
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Instrument
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Fully paid-up equity shares of face value of Rs 1 each.
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Total number of equity shares and rights issue size
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Up to 6,34,64,610 fully paid-up equity shares each for an amount aggregating up to Rs 98,37,01,455.
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Rights issue price
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Rs 15.50 per fully paid-up equity share (including a premium of Rs 14.50 per equity share).
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Record date
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Thursday, December 14, 2023, designated to determine the existing equity shareholders entitled to receive the rights entitlement in the rights issue.
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Rights issue period
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Rights Issue Opening Date: Tuesday, December 26, 2023 & Rights Issue Closing Date: Wednesday, January 10, 2024.
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Outstanding equity shares
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Before the Rights Issue: 107,88,98,382 fully paid-up equity shares and Post Rights Issue: 114,23,62,992 fully paid Equity shares (assuming full subscription).
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Rights entitlement ratio
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1:17 i.e., 1 rights equity share for every 17 equity shares held by an eligible equity shareholder.
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Other terms of the Rights Issue
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To be included in the letter of offer to be filed by the company with Securities and Exchange Board of India, BSE & NSE.
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Quarterly Results: In the second quarter of fiscal year 2024 (Q2FY24), the company's net sales, operating profit, and net profit all increased significantly compared to the same period in fiscal year 2023 (Q2FY23). The net sales increased by 311.68 per cent to Rs 121.78 crore, operating profit increased by 174.95 per cent to Rs 25.32 crore and net profit increased by 148.84 per cent to Rs 18.79 crore in Q2FY24 compared to Q2FY23.
Half-yearly Results: In the first half of fiscal year 2024 (H1FY24), the company's net sales, operating profit, and net profit all increased significantly compared to the same period in fiscal year 2023 (H1FY23). Net sales increased by 192.33 per cent to Rs 234.98 crore, operating profit increased by 82.36 per cent to Rs 41.83 crore, and net profit increased by 79.43 per cent to Rs 31.63 crore.
Lloyds Steels Industries is primarily engaged in the design, manufacturing, and commissioning of heavy equipment, machinery & systems for the hydrocarbon sector, oil & gas, steel plants, power plants, nuclear plant boilers, and turnkey projects. As of Seotember 30, 2023, the company's order book stands at Rs 921.4 crore.
Today, shares of Lloyds Steels Industries plunged 1.34 per cent to Rs 48.52 per share with an intraday high of Rs 50.96 and an intraday low of Rs 48.
The stock gave multibagger returns of 225 per cent in just 1 year, 330 per cent in 2 years and a whopping 4,650 per cent in 3 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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