Textile Penny Stock Under Rs 30 in Focus as Board is Likely to Announce Bonus Shares Again for Second Consecutive Year
The shares of the company saw a spurt in volume by more than 1.03 times on BSE.
On Monday, shares of SBC Exports Ltd plunged 4.26 per cent from their previous closing of Rs 26.06 per share to Rs 24.95 per share with an intraday high of Rs 26.88 and an intraday low of Rs 24.74. The shares of the company saw a spurt in volume by more than 1.03 times on BSE.
A meeting of the Board of Directors of SBC Exports Ltd. is scheduled to be held on Friday, January 24, 2025, at 4:00 P.M., at the Company's Corporate Office located at 49/95 Site-IV, Sahibabad Industrial Area, Ghaziabad, Uttar Pradesh - 201010. The agenda of the meeting includes: 1) Approval of Un-audited Financial Results (Standalone and Consolidated) for the quarter ended December 31, 2024; 2) Consideration of an increase in the authorized share capital of the Company and subsequent amendments to the Memorandum of Association; 3) Recommendation and approval of the issuance of bonus shares to Equity shareholders of the Company, including discussions related to the Bonus Issue; and 4) Any other matter with the permission of the Chairman.
Earlier, in January 2024, the shares of the company ex-traded bonus shares in the ratio 1:2 i.e., 1 equity share for every 2 equity shares held by the existing equity shareholder of the company. The ex-record date was January 19, 2024. Pre-Bonus Issue Paid-up Share Capital – 21,16,40,000 Post Bonus Issue Paid-up Share Capital – 31,74,60,000.
According to Quarterly Results, the net sales increased by 87.34 per cent to Rs 65.98 crore and net profit increased by 147.31 per cent to Rs 5.37 crore in Q2FY25 over Q2FY24. In its half-yearly results, the net sales increased by 3.34 per cent to Rs 121.32 crore and net profit increased by 15.62 per cent to Rs 6.18 crore in H1FY25 over H1FY24. In FY24, the net sales increased by 7 per cent to Rs 209.41 crore and net profit increased by 36.71 per cent to Rs 9.44 crore over FY23. The stock is up by 36 per cent from its 52-week low of Rs 18.39 per share and gave multibagger returns of over 2,100 per cent in 5 years.
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SBC Exports Ltd, founded in 2011 as a handicraft trader, has evolved into a diversified company with three primary business verticals: garments, IT services and travel. The company's garment division has grown significantly, with four manufacturing units and plans for further expansion. SBC's IT services division provides support to various organizations and its travel subsidiary, Mauji Trip Limited, is experiencing rapid growth. The company's focus on branding, product development and profitability has positioned it for continued success in the coming quarters. With a strong financial performance and a commitment to shareholder value, SBC is poised to emerge as a stronger and more competitive player in the market.
SBC Exports Ltd is increase in the capacity of its Garment Division by setting up an ultra-modern garments’ unit at Ghaziabad for which it has already acquired land measuring 3,502.38 sq. metres. The new facility will be largely catering to the international market where SBC is getting large inquiries but has capacity constraints currently. The new facility will have a State-of-the-art stitching, printing & packaging unit besides having a world-class display centre, warehousing and administrative area.
Disclaimer: The article is for informational purposes only and not investment advice.