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Navoday Enterprises Ltd is trading at a PE multiple of 9.65 and an ROE of 7.65 per cent, all of which point to strong managerial performance.

On Wednesday, shares of Navoday Enterprises Ltd were locked in upper price band of 10 per cent to Rs 11 per share. The corporation verified that the record date for the issuance of bonus shares is November 29, 2022 and that bonus shares will be issued to equity shareholders in a ratio of 1:1.  

Navoday Enterprises Ltd has a market cap of Rs 4.25 crore. The company is primarily involved in marketing support and advertising, management and financial consultancy and component supply and support services. They provide business services to their clients only in India.  

According to annual financial figures, the net sales for FY23 increased by 73 per cent compared to the same quarter last year. Operating profit for FY23 increased to 8.5 per cent when compared to FY22. In comparison to FY22, when the net profit was only Rs 0.36 crore, it dramatically increased to Rs 0.44 crore or 20.72 per cent, in FY23. Currently, Navoday Enterprises Ltd is trading at a PE multiple of 9.65 and an ROE of 7.65 per cent, all of which point to strong managerial performance. The company’s 52-week high is Rs 14.49 and its 52-week low is Rs 6.  

A recent bonus share announcement stated that the company will issue 38,54,000 equity shares of Rs 10 each as bonus shares with an aggregate nominal value of Rs 3.85 crore in a ratio of 1:1, implying that shareholders had one share of share capital for each share, as of the record date.  

Investors must keep an eye on this stock.