350 crore projects: This small-cap company invests in multiple projects, profit doubles and declared stellar divided!
The stock gave multibagger returns of over 150 per cent in just 3 years.
Jay Bharat Maruti Limited informed that they will be setting up 2 new manufacturing plants in the state of Haryana and Gujarat to cater to the requirements of its key customer Maruti Suzuki in both regions. These plants will be commissioned at Kharkhoda, Sonipat in Haryana and SMG Suppliers’ Park in Gujarat.
Jay Bharat Maruti Ltd. will also be setting up an assembly facility in the new Gujarat facility for supplying auto assemblies. Jay Bharat Maruti Ltd will invest Rs 300-350 crore approx. in a phased manner in line with its customer growth strategy.
The company also reported fantastic numbers in its Quarterly Results (Q4) and annual results (FY23). The net sales rose by 26 per cent and net profit skyrocketed by 101 per cent in Q4FY23 over Q4FY22. The company also informed that the Board of Directors recommended a dividend at 35 per cent or Rs 1.75 per share (on fully paid-up equity shares of Rs 5 each) for the year ended March 31, 2023.
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Jay Bharat Maruti Limited, in collaboration with Maruti Suzuki India Limited (MSIL), is the leading manufacturer of key auto components and assemblies such as exhaust systems, fuel fillers (fuel pipe) and suspension parts for passenger cars.
On Friday, shares of the company surged 1.21 per cent to Rs 175.05 per share with an intraday high of Rs 178.90 per share and an intraday low of Rs 174.40.
The stock gave multibagger returns of over 150 per cent in just 3 years. Investors should keep an eye on this stock under their watchlist.