Multibagger in just 1 year; Board is likely to announce bonus share and stock split!
The stock is up by 35.68 per cent in just 5 trading sessions.
Hardwyn India Ltd announced that a meeting of the Company's Board of Directors will be conducted on Wednesday, April 26, 2023, to consider and approve the following businesses:
1) To consider the split of equity shares of the company and consequent amendment to the capital clause of the Memorandum of Association (MoA) of the company, subject to the approval of the shareholders and other necessary approvals, to give effect to the said changes.
2) The issue of fully paid-up Bonus Equity Shares to the members of the Company.
3) To consider and increase the Authorised Share Capital of the company upto the amount as may be determined and approved by the Board.
4) To consider and discuss any other items as may be decided by the Board of Directors of the Company.
Today, shares of Hardwyl India Ltd surged 0.91 per cent to Rs 344.15 per share from its previous closing of Rs 341.05 with an intraday high of Rs 350 and an intraday low of Rs 336.70. The stock gave multibagger returns of 254.79 per cent in just 1 year.
Hardwyn India Ltd is a manufacturer of architectural hardware and glass fittings, which provides complete solutions to residential and commercial structures.
Hardwyn India has a market valuation of Rs 900 crore and 3 years CAGR of more than 231 percent, according to the financials. Over Q3FY22, net sales increased by 30 per cent and net profit increased by 230.30 per cent in Q3FY23. In FY22, net sales increased by 47.37 per cent, while net profit increased by 50 per cent over FY21.
The stock has an ROE of 40.06 per cent and a ROCE of 31.25 per cent. Additionally, the stock is up by 35.68 per cent in just 5 trading sessions.
Investors should keep an eye on this Small-Cap stock.