1:2 Bonus Shares and 5:1 Stock Split: Multibagger civil construction company announces a turnaround net profit on a QoQ basis; Jumps over 140 per cent!
The stock gave multibagger returns of 138.2 per cent from its 52-week low of Rs 100.05 per share; 490 per cent in 3 years and a whopping 1,000 per cent in 5 years.
On Wednesday, shares of Maruti Infrastructure Ltd gained 3.6 per cent to Rs 238.30 per share from its previous closing of Rs 230.05. The stock’s 52-week high is Rs 254.70 and its 52-week low is Rs 100.05.
The company intends to subdivide its existing shares and issue bonus shares. Shareholders will be entitled to receive a stock split, where they'll get 5 equity shares of face value Rs 2 each for every existing fully paid equity share of Rs10 each they hold. This subdivision is subject to shareholder approval at an upcoming Extraordinary General Meeting (EGM) scheduled for November 31, 2024. Additionally, shareholders will also receive bonus shares in the ratio of 1:2, meaning 1 bonus share of Re 1 each for every 2 existing fully paid equity shares they hold. This issuance of bonus shares is also subject to shareholder approval at the same EGM scheduled for September 29th, 2024. The Board fixed the record date for bonus shares and stock split as Friday, August 09, 2024.
Maruti Infrastructure Ltd, established in 1994, is a Gujarat-based company specializing in construction and real estate development. They focus on both Economically Weaker Section (EWS) housing projects and urban infrastructure projects within Ahmedabad. Their services include professional construction and property management for civil, residential, and commercial projects.
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They hold memberships in various professional associations like GIHED (Gujarat Institute of Housing and Estate Developers) and have registrations with government bodies like R&B Division (Gujarat State) and Ahmedabad Municipal Corporation as approved A-Class contractors. Their portfolio includes diverse projects ranging from civil works for data centres and office buildings to bridge reconstructions and road constructions for both private and government clients.
According to Quarterly Results, the company reported net sales of Rs 5.43 crore in Q1FY25 compared to net sales of Rs 11.97 crore in Q4FY24 & net sales of Rs 6.89 crore in Q1FY24. In Q1FY24, the company reported a turnaround net profit of Rs 0.42 crore compared to a net loss of Rs 1.01 crore in Q4FY24, an increase of 141.6 per cent. In its annual results, the company reported net sales of Rs 38.40 crore and net profit of Rs 1.22 crore in FY24.
The company had a market cap of Rs 297.88 crore. The stock gave multibagger returns of 138.2 per cent from its 52-week low of Rs 100.05 per share; 490 per cent in 3 years and a whopping 1,000 per cent in 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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