Multibagger penny stock under Rs 100; Board announces bonus shares in 1:5 ratio for the first time ever!
The stock gave multibagger returns of 340 per cent in just 1 year and over 760 per cent in 3 years.
Omfurn India Limited informed that the Board of Directors at its meeting, recommended a bonus issue of equity shares in the ratio of 1:5 i.e., 1 (one) new equity share for every 5 (five) existing equity shares held by the shareholders of the company as on the record date, subject to the approval of shareholders. With reference to the captioned subject matter, for the purpose of ascertaining the names of equity shareholders entitled to bonus shares, the Board of Directors has fixed Friday, October 06, 2023, as the record date.
On Wednesday, one of the Top Gainers on NSE, shares of Omfurn India Limited jumped 5 per cent upper circuit to Rs 76.90 per share from its previous closing of Rs 73.25. The stock’s 52-week high is Rs 76.90 and its 52-week low is Rs 17. The shares of the company have a PE of 13.2x, an ROE of 18 per cent and an ROCE of 18.3 per cent.
Omfurn India Ltd manufactures supplies and exports commercial and residential furniture. The company primarily undertakes turnkey projects for corporate offices, hotels, international schools, prefinished wooden doorframes and shutters and fire-resistant doors for real estate developers. The company has a market cap of over Rs 52.4 crore with a 3-year stock price CAGR of 98 per cent.
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According to the half-yearly results, the net sales increased by 154 per cent to Rs 46.54 crore and net profit increased by 63 per cent to Rs 1.53 crore in H2FY23 compared to H2FY22. In FY23, the net sales increased by 128 per cent to Rs 70.23 crore and net profit increased by 475 per cent to Rs 3.91 crore compared to FY22.
The stock gave multibagger returns of 340 per cent in just 1 year and over 760 per cent in 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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