5,200 Per Cent Multibagger Returns in This Iron & Steel Stock; Board Likely to Announce Stock Split

The stock is up by 97 per cent from its 52-week low of Rs 545.2 per share and gave multibagger of over 5,200 per cent in 5 years.

Jai Balaji Industries Ltd informed that the meeting of the Board of Directors of the company is scheduled to be held on Tuesday, November 12, 2024 at the Registered Office of the Company, to inter alia:

1. Consider, approve and take on record un-audited standalone and consolidated financial results of the company for the second quarter & half year ended September 30, 2024.
2. To consider and approve the alteration in the share capital of the company by sub-division /stock split of existing equity shares having face value of Rs 10 each, fully paid-up, as may be determined by the Board of Directors and consequent alteration of Memorandum & Articles of Association of the Company, subject to approval of the Shareholders and such authorities as may be required.

Jai Balaji Industries Limited, established in 1999, is a prominent player in the iron and steel industry. The company boasts a diverse product portfolio encompassing DRI, pig iron, ferro alloys, steel billets, TMT bars, wire rods, ductile iron pipes, and heavy rounds. With a strategic focus on value-added and specialized products, Jai Balaji is poised for substantial growth, targeting a 25-30 per cent revenue increase and 17-18 per cent EBITDA margins for FY25. The company's expansion plans include ramping up DI Pipe production to 4 lakh tons and increasing the revenue contribution of value-added products to 80 per cent.

The company has a market cap of Rs 19,594 crore and has delivered good profit growth of 51.6 per cent CAGR over the last 5 years. The stock is up by 97 per cent from its 52-week low of Rs 545.2 per share and gave multibagger of over 5,200 per cent in 5 years. Investors should keep an eye on this mid-cap stock.

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