50 per cent returns from its 52-week low; Board announced stock split for the first time ever!

The shares of the company saw a spurt in volume by more than 1.40 times on BSE.

HP Adhesives Ltd informed that the Board of Directors of the company has approved the stock split/sub-division of every 1 equity share of the face value of Rs 10 each into 5 equity shares of a face value of Rs 2 each. The company fixed the record date for the stock split as Thursday, November 09, 2023.

On Friday, shares of HP Adhesives Ltd surged 0.77 per cent to Rs 467.05 per share with an intraday high of Rs 473.30 and an intraday low of Rs 461.40. The shares of the company saw a spurt in volume by more than 1.40 times on BSE.  

HP Adhesives Limited is an adhesives and sealants company. The company manufactures a wide range of consumer adhesives and sealants. The company also sells ancillary products like ball valves, thread seals, and other tapes and FRP products for drainage and architectural solutions.

The company has a market cap of over Rs 850 crore. The company has very little debt, with only 8.53 crore rupees outstanding. This is just 1 per cent of its market capitalization.

In comparison to Q1FY24 vs Q1FY23, the net sales decreased by 3.76 per cent to Rs 59.32 whereas net profit skyrocketed 230 per cent to Rs 4.51 per cent. In FY23, the net sales increased by 41.2 per cent to Rs 233 crore and net profit increased by 83 per cent to Rs 11 crore compared to FY22.

The stock is up over 50 per cent from its 52-week low of Rs 309.80 per share. Investors should keep an eye on this Small-Cap stock.

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