Penny stock under Rs 30 hit upper circuit as Board announces final dividend of Re 0.01 per equity share; Check record date inside!
The stock is up by 47 per cent from its 52-week low of Rs 17.35 per share and gave multibagger returns of over 100 per cent in 3 years.
Today, shares of Bhatia Communications & Retail Ltd hit a 5 per cent upper circuit to Rs 25.51 per share from its previous closing price of Rs 24.30 per share. The stock’s 52-week high is Rs 38.90 and its 52-week low is Rs 17.35.
Bhatia Communications & Retail (India) Limited announces that the final dividend of Re 0.01 per equity share (1 per cent), recommended by the Board of Directors, has been approved by shareholders at the Annual General Meeting held on September 6, 2024. The dividend will be paid to shareholders within the timeframe specified under the Companies Act, 2013. The record date for determining eligibility for the dividend is Tuesday, September 24, 2024. Dividend entitlement will be based on the beneficial ownership as recorded by the National Securities Depository Limited and the Central Depository Services (India) Limited on the record date.
About the Company
Bhatia Communications & Retail (India) Ltd is engaged in the retail and wholesale distribution business of mobile handsets, tablets, data cards, mobile accessories, mobile-related products, home appliances and other electronic items. The company has strong partnerships with various companies like Apple, One Plus, Samsung, Vivo, Oppo, Realme, Mi, Motorola, Techno, Nothing, Noise, Boat, HP, Lenovo, Fire Boltt, etc. The company has an average of Rs 8 to Rs 10 lakhs of capex per store with 172 stores across India (160 owned and 12 franchise).
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Results: According to the Quarterly Results, the net sales increased by 11.62 per cent to Rs 104.82 crore in Q1FY25 compared to net sales of Rs 93.91 crore in Q4FY24. The net profit increased by 22.5 per cent to Rs 3.65 crore in Q1FY25 compared to Rs 2.98 crore in Q4FY24. In its annual results, the net sales increased by 31.3 per cent to Rs 413.79 and the net profit increased by 20.8 per cent to Rs 11.52 crore in FY24 compared to FY23.
The company has a market cap of Rs 319.26 crore with a PE of 30x, an ROE of 14.1 per cent and an ROCE of 16.9 per cent. The stock is up by 47 per cent from its 52-week low of Rs 17.35 per share and gave multibagger returns of over 100 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.