10:1 Stock Split Next Month: Multibagger Jewellery Stock In Green As Company Reports A 101 Per Cent Jump In PAT
The stock gave multibagger returns of 238 per cent from its 52-week low of Rs 87.10 per share.
Today, the shares of Motisons Jewellers Ltd surged 3 per cent to an intraday high of Rs 294.45 per share from its previous closing of Rs 285.75 per share. The stock’s 52-week high is Rs 329.90 and its 52-week low is Rs 87.10.
Motisons Jewellers Ltd, established in 1997, is a prominent Indian jeweller offering an extensive collection of gold, diamond, kundan, pearl, silver and platinum jewellery, boasting over 300,000 designs spanning traditional, modern, and fusion styles. The company also arranges virtual appointments to assist its customers. Products offered through online marketplaces are diverse and not available in the showrooms.
According to Quarterly Results, the net sales increased by 21per cent to Rs 109.34 crore and net profit increased by 101 per cent to Rs 10.40 crore in Q2FY25 compared to Q2FY24. In its half-yearly results, the net sales increased by 12 per cent to Rs 198.06 crore and net profit increased by 57 per cent to Rs 16.73 crore in H1FY25 compared to H1FY24. Looking at the annual results, the net sales increased by 14 per cent to Rs 416.76 crore and net profit increased by 46 per cent to Rs 32.23 crore in FY24 compared to FY23.
DSIJ’s 'Tiny Treasure' service recommends researched Small-Cap stocks with Inherent Growth Potential. If this interests you, do download the service details here.
Motisons Jewellers Limited announced plans to subdivide its equity shares from a face value of Rs 10 to Re 1 each. This move, subject to shareholder approval, aims to increase liquidity and accessibility of the company's shares. The record date for determining eligibility for the split has been set for November 9, 2024. Following the split, the total number of equity shares will increase tenfold, while the number of preference shares will remain unchanged.
Motisons Jewellers Ltd has recently secured a substantial investment of up to Rs 170 crore. This funding was obtained through the issuance of fully convertible warrants to non-promoter investors. The company plans to utilize these funds to accelerate its growth initiatives. The warrants, with a maturity of 18 months, can be converted into equity shares at a premium to the floor price determined by SEBI. Three investors have participated in the warrant issuance: North Star Opportunities Fund, Eminence Global Fund, and Nexpact Limited.
The company has a market cap of over Rs 2,800 crore and has delivered good profit growth of 56.2 per cent CAGR over the last 5 years. The stock gave multibagger returns of 238 per cent from its 52-week low of Rs 87.10 per share. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.