This Gujarat-Based Engineering Company Likely to Announce Bonus Issue This Month; Promoter Bought 43,053 Shares; Stock Hits Upper Circuit Today!

This Gujarat-Based Engineering Company Likely to Announce Bonus Issue This Month; Promoter Bought 43,053 Shares; Stock Hits Upper Circuit Today!

Rakesh Deshmukh

The company's shares have delivered an impressive return of over 555 per cent to their shareholders in just 1 year.

Incorporated in 1986 and promoted by Mr. C.N. Doshi and Mr. R.N. Doshi, Rajoo Engineers Limited specializes in manufacturing plastic-extrusion machinery in Gujarat. The company is known for designing and producing machines tailored to meet specific customer needs. The company has announced that its Board of Directors will convene on Monday, June 24, 2024, to consider and recommend the issuance of bonus Shares, pending approval from the shareholders of the company.

On Wednesday Rajoo Engineers Limited shares closed the day at Rs 289.15 per share on the BSE representing an almost a rally of 5 per cent. Additionally, the stock has delivered a multibagger return of over 555 per cent in just 1 year.

As per Quarterly Results in Q4 FY24, Rajoo Engineers Limited reported a quarterly revenue from operation of Rs 52.68 crore compared to a revenue of Rs 71.43 crore, representing a de-growth on a YoY basis. The net profit of the company stood at Rs 6.25 crore in Q4 FY24 compared to a net profit of Rs 4.64 crore. Turning attention to the annual performance of the company, it reported a revenue of Rs 197 crore, compared to Rs 160 crore in FY23 representing a gain of 23.54 per cent YoY. Moreover, the company’s net profit stood at Rs 20 crore in FY24 compared to a profit of Rs 10 crore.

According to the shareholding pattern, the company's promoters hold 66.56 per share while the public or retail investors hold 33.07 per share. FIIs hold around 0.37 per cent stake in the company.

Investors must keep this Small-Cap stock on their radar.

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

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