1:2 Stock split and 300 per cent dividend announcement: Stock gains over 190 per cent in just 1 year, FIIs and DIIs increase stake!
The company’s shares have delivered impressive multibagger returns of over 550 per cent to their shareholders.
Sanghvi Movers is engaged in the business of providing hydraulic and crawler cranes to various industries in the infrastructure sector. The company has a fleet of medium to large-size hydraulic truck-mounted telescopic and lattice boom cranes, as well as crawler cranes, with lifting capacities ranging from 20 tons to 800 tons. The company has made a significant announcement regarding stock splits and dividends for shareholders.
Sanghvi Movers announced Stocks Split & Dividend :
Sanghvi Movers has announced stock split. The Board considered the proposal to subdivide each equity share of the Company, with a face value of Rs 2 each, into 2 equity shares, each with a face value of Rs 1, subject to necessary regulatory/statutory approvals and the approval of the shareholders of the Company. The Board will determine the record date for the split of equity shares and will promptly notify the exchanges accordingly.
Furthermore, the recommendation of a final dividend of Rs 6 (300 per cent) per equity share of Rs 2 each, subject to the approval of the Members of the Company at the upcoming Annual General Meeting.
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Share Performance of Sanghvi Movers
On Friday the company's stock closed at around Rs 1179.50 per share on the BSE, with a market capitalisation of Rs 5105 crore. Additionally, the stock has delivered a return of around 197 per cent in the past one year and 624 per cent in the past three years.
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Financial Performance of Sanghvi Movers
In FY24, Sanghvi Movers reported revenue of Rs 619 crore, representing a year-on-year growth of 35.71 per cent from Rs 456 crore last year. The company posted an operating profit of Rs 381 crore, compared to a profit of Rs 257 crore last year. The company’s net profit stood at Rs 188 crore in FY24, compared to Rs 112 crore in FY23, representing a YoY gain of 68 per cent. As per the quarterly update, the company's revenue jumped by 30.44 per cent, while net profit grew by 41 per cent YoY.
Investors must keep this Small-Cap multibagger stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.