Multibagger penny stock under Rs 70 with 900 per cent returns; Board likely to announce bonus shares!

The stock gave multibagger returns of 220 per cent in 2 years and 900 per cent in 3 years.

Shreeji Translogistics Limited (STL) one of the large integrated national logistical solution providers in India, informed that a meeting of the Board of Directors of the company is scheduled to be held on Thursday, December 21, 2023, inter alia, to transact the following business:

1. To consider the proposal for issuance of bonus shares.

2. To consider an increase in the authorised share capital of the company.

3. To consider seeking approval of the shareholders through postal ballot in respect of the above resolutions and to approve the draft postal ballot notice.

Shreeji Translogistics Limited (STL) expands its service portfolio by entering the steel material handling arena at railway sidings, also known as railway rake handling and transportation. This strategic move aims to enhance customer offerings and strengthen its position as a comprehensive logistics provider.

Under this new service, STL will handle steel materials at designated railway sidings and optimize their loading onto trailers and trucks, facilitating efficient last-mile deliveries across India. This integrated approach will enable STL's clients to achieve significant cost savings through multi-modal transportation while ensuring seamless, secure, and timely deliveries of their goods.

Furthermore, the company announced its strategic expansion with the opening of a new branch in Indore, Madhya Pradesh. This move further strengthens Shreeji's presence in central India, allowing them to leverage their established network and expertise to meet the growing demand for reliable and efficient transportation and supply chain solutions in the region. This expansion not only benefits existing customers but also opens doors to a larger customer base, solidifying Shreeji's position for future growth and expanding their reach and capabilities in the central Indian logistics landscape.

On Friday, shares of Shreeji Translogistics Ltd surged 4.38 per cent to an intraday high of Rs 65 per share. At the closing bell, shares of the company were trading at Rs 64.46, up 3.52 per cent.

According to the financials, the company has a market cap of 338 crore and has delivered good profit growth of 25.8 per cent CAGR over the last 5 years. The company's Quarterly Results for Q2FY24 show strong growth across all key financial metrics. Revenue from operations grew by 33 per cent to Rs 65.45 crore, EBITDA grew by 43 per cent to Rs 8.21 crore, and PAT grew by 67 per cent to Rs 4.85 crore, all compared to the same period in the previous financial year.

The stock gave multibagger returns of 220 per cent in 2 years and 900 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.