1:1 Bonus Share Announced for Second Straight Year: High ROE & High ROCE Multibagger Stock with 880 Per Cent Returns; Check Record Date Inside

The stock gave multibagger returns of 141 per cent from its 52-week low of Rs 161.45 per share and a whopping 880 per cent in 3 years.

Evans Electric Ltd, a stalwart in the Indian heavy electro-mechanical repair industry, has been a cornerstone since India's independence. Specializing in repairing and servicing electrical machines of all sizes and capacities, the company has become synonymous with quality and reliability. By providing exclusive and innovative repair, refurbishment and support services to diverse industries like power generation, distribution, manufacturing, and processing, Evans Electric has consistently met the evolving needs of the industry. The company's commitment to import substitution and in-house component development has not only saved significant foreign exchange but also positioned it as a leader in the field.

The Board of Directors of Evans Electric Ltd has approved a bonus issue of equity shares in a 1:1 ratio, meaning shareholders will receive one additional share for every share they currently hold. To accommodate this, the company's authorized share capital will be increased from Rs 3 crores to Rs 6 crores by creating 30 lakh additional equity shares. This bonus issue will result in a post-issue paid-up share capital of Rs 5.48 crore. The board fixed the record date for bonus shares as Thursday, December 26, 2024.

In the year 2023, the company announced a 1:1 bonus share and the ex-date for the bonus issue was February 02, 2023.

On Monday, shares of Evans Electric Ltd hit a 10 per cent upper circuit to Rs 389.40 per share from its previous closing of Rs 354. The stock’s 52-week high is Rs 503.80 and its 52-week low is Rs 161.45. The company has a market cap of Rs 115 crore with an ROE of 28 per cent and an ROCE of 36 per cent. The stock gave multibagger returns of 141 per cent from its 52-week low of Rs 161.45 per share and a whopping 880 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.