Multibagger in just 6 months & Rs 5,372 crore order book; Board announced rights issue worth Rs 2,00,00,00,000!
The stock gave multibagger returns of 140 per cent in just 6 months and over 200 per cent in 1 year.
Skipper Ltd informed that the Board of Directors have approved the issuance of equity shares of the company for an amount up to Rs 2,00,00,00,000 (Rupees Two Hundred Crores Only) by way of a rights issue to the eligible equity shareholders of the company as on the record date (to be determined and notified subsequently), in accordance with all applicable laws including the Securities and Exchange Board of India Regulations, 2018, as amended, the Companies Act, 2013, at such price and on such terms and conditions as may be decided by the Board or a duly constituted committee of the Board in accordance with applicable laws, subject to receipt of necessary approvals, as may be required.
Earlier, the company announced its stellar Quarterly Results ended June 30, 2023, wherein the net sales increased by 33.41 per cent to Rs 555 crore, the operating profit increased by 71.43 per cent to Rs 60 crore and the net profit skyrocketed 1,700 per cent to Rs 16 crore in Q1FY24 compared to Q1FY23.
In FY23, the net sales increased by 16 per cent to Rs 1,980 crore and net profit increased by 44 per cent to Rs 36 crore compared to FY22. As of June 2023, the company’s order book stands at Rs 5,372 crore and is well-diversified across various sectors and segments (Domestic orders are 76 per cent and Export orders are 24 per cent).
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Skipper Ltd is engaged in manufacturing and selling transmission & distribution structures and pipes & fittings. It also undertakes EPC projects in the infrastructure segment. Skippers Ltd has a market cap of over Rs 2,200 crore with a 3-year stock price CAGR of 67 per cent.
The stock gave multibagger returns of 140 per cent in just 6 months and over 200 per cent in 1 year. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.