34,560 per cent returns; 10:1 stock split & FIIs bought 19,29,785 shares: Multibagger civil construction stock hit upper circuit & 52-week high on September 05
The stock gave multibagger returns of 310 per cent in just 1 year and a whopping 3,070 per cent in 3 years.
Today, shares of Hazoor Multi Projects Ltd were locked in a 5 per cent upper circuit to Rs 519.85 per share from its previous closing of Rs 495.10. The stock also made a fresh new 52-week high of Rs 519.85 per share and gave multibagger returns of 326.4 per cent from its 52-week low is Rs 115 per share.
The Board of Directors of the company announced the stock split in the ratio 10:1 i.e., sub-division of equity shares of Rs 10 face value, 10 equity shares of face value of Re 1 each in the AGM meeting. The record date for the stock split is yet to be determined. Furthermore, the Board has declared the 1st Interim dividend of Rs 2 per fully paid-up equity share having a face value of Rs 10 each per equity share for the financial year 2024-25. The record date for the dividend is fixed as August 28, 2024.
Hazoor Multi Projects Limited has secured several new contracts. The company has been awarded a work order from B.G. Shirke Const. Tech. Pvt Ltd. for the excavation of various sites, including Pahadi Goregaon-1473, Shirdhon- III, Khoni- 1374, Nawde-1449, CPWD- 1447, Taloja-1415/16, Thane- 1453, and Kanamwarnagar-1180. The total value of this project is Rs 30 crore plus applicable taxes. Additionally, the company has received a work order from Welspun Enterprises Limited for stacking and dewatering works, valued at Rs 40 crore plus applicable taxes. In another significant development, Hazoor Multi Projects Limited has emerged as the lowest bidder (L-1) for a project awarded by the Maharashtra State Infrastructure Development Corporation (MSIDC). This project involves widening and improving the Paldhi Amalner dondaicha Nandurbar Dhanora to Gujarat State Border Road (SH-6) on an EPC basis. The contract, valued at Rs 273.74 crore plus applicable GST, will be executed domestically for 2.5 years. There are no related party transactions or conflicts of interest involved in this project.
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About the Company
Hazoor Multi Projects Ltd, founded in 1992, has transitioned from residential construction to focus on infrastructure development. They primarily act as a subcontractor on national highway projects for government agencies like the Maharashtra State Road Development Corporation and the National Highways Authority of India. Additionally, Hazoor Multi Projects has ventured into the EPC (Engineering, Procurement, and Construction) contracting business. The company has a market cap of Rs 966 crore.
Consolidated Results: According to Quarterly Results, the company reported net sales of Rs 70.26 crore and net profit of Rs 9,46 crore in Q1FY25. In its annual results, the company reported net sales of Rs 545 crore and a net profit of Rs 63.77 crore in FY24.
In June 2024, FIIs bought 19,29,785 shares and increased their stake to 19.18 per cent compared to 10.92 per cent in March 2024. The shares of the company have a PE of 15x whereas the sectoral PE is 26x with an ROE of 86 per cent & an ROCE of 84 per cent. The stock gave multibagger returns of 310 per cent in just 1 year and a whopping 3,070 per cent in 3 years. From Rs 1.50 to Rs 519.85 per share; the stock gained 34,560 per cent in just 5 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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