Dont miss action in this high-priced multibagger stock as it is set to announce stock split soon!
In Q3FY23 company reported a growth of 15 per cent YoY in revenue from operations to Rs 51 crore from Rs 44.2 crore in the same period last year.
Tips Industries Limited is a leading Indian music label which creates and monetizes music. It has an extensive music catalogue of film, non-film, devotional, pop and remixes in Hindi, Punjabi, Gujarati, Bhojpuri and other languages straddles all genres of popular Indian music. The catalogue is licensed to over the top (OTT) video platforms, social media platforms, content aggregators, television channels, telecom companies, radio stations, advertisers, event management companies, hotels, restaurants and others. Social media and gaming are emerging as new sources of monetization. Through a robust multi-year track record, the company has demonstrated consistent success in creating high quality music and acquiring music related intellectual property rights (IPR).
The company has recently announced in its press release that meeting of the Board of Directors of the Company is scheduled to be held on Monday, February 13, 2023, inter alia, to consider and approve the proposal for sub-division of the Equity shares of the Company of face value of Rs.10/- (Rupees Ten each) in such manner as may be determined by the Board of Directors and subject to approval of the shareholders and such authorities as may be required.
Stock split, as the name suggests, is the reduction in the face value of a stock and thereby a corresponding increase in the number of outstanding shares. The key objective of a stock split is to improve the liquidity in the stock, and thereby make it more affordable for investors.
In Q3FY23 company reported a growth of 15 per cent YoY in revenue from operations to Rs 51 crore from Rs 44.2 crore in the same period last year. Profit after tax declined 6 per cent YoY to Rs 20.2 crore as against 21.5 in Q3FY22.
The stock has given exceptional returns of over 1400 per cent in the last three years and as a result, the stock has delivered multibagger returns to its shareholders.