2,890 per cent returns in this multibagger stock; Board likely to announce stock spit after bonus shares!

The shares of the company have an ROE of 26.9 per cent and an ROCE of 21.4 per cent with a 3-year CAGR of 208 per cent.

M K Proteins Ltd informed that the meeting of the Board of Directors of the company is scheduled to be held on Saturday, September 23, 2023, inter-alia, to consider and approve the following items:

1. The proposal for sub-division/ stock split of equity shares of the company having a Face value of Rs 10 each in such a manner as the Board may determine.

2. Consequent alteration of Memorandum of Association of the Company.

3. Any other item with the permission of the chairman.

Earlier, the company issued bonus shares in the ratio of 2:1 which means that shareholders had received 2 bonus shares for each share held by the existing shareholder. The corporation verified that the record date for the issuance of bonus shares is Friday, February 03, 2023.  

Today on NSE, shares of M K Proteins Ltd surged 0.1 per cent to Rs 781.50 per share from its previous closing of Rs 780.80 with an intraday high of Rs 797.90 and an intraday low of Rs 764.65.

M K Proteins Limited owns and operates an edible oil production plant. The company produces and refines rice bran, canola, soya bean, and sunflower oil. M K Proteins serves customers in India.

According to Quarterly Results and annual results, the company reported positive numbers. In Q1FY24, the company reported net sales of Rs 76.20 crore and a net profit of Rs 2.49 crore. In FY23, the net sales increased by 23 per cent to Rs 315 crore and net profit increased by 10 per cent to Rs 11 crore compared to FY22.

The company has a market cap of Rs 977 crore. The shares of the company have an ROE of 26.9 per cent and an ROCE of 21.4 per cent with a 3-year CAGR of 208 per cent respectively. The stock gave multibagger returns of 2,890 per cent in just 3 years. Investors should keep an eye on this multibagger SME stock.

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