Multibagger penny stock under Rs 65; Board announced bonus shares; PAT zooms over 150 per cent!

The stock gave multibagger returns of over 650 per cent in 3 years.

Shree Oswal Seeds and Chemicals Limited informed that the Board of Directors of the Company have approved the bonus issue of shares in the ratio 1:5 i.e., 1 new fully paid-up bonus equity shares of Rs 2 each for every 5 existing fully paid-up equity share of Rs 2 each held as on a record date. The estimated date by which such bonus shares would be credited is within 2 months from the date of approval of the Board of Directors i.e. on or before February 15, 2024.

Earlier, the Board of Directors of the company proposed a sub-division/stock split of existing equity shares from 1 equity share having a face value of Rs 1 each fully paid-up, into 5 equity shares having a face value of Rs 2 each fully paid-up as of the record date. This stock split was executed on Friday, August 18, 2023.

Shree Oswal Seeds and Chemicals Limited is a producer, exporter and supplier of well-processed, de-husked and filtered seeds. According to the financials, Shree Oswal Seeds and Chemicals Limited has a market cap of over Rs 460 crore with a 5-year stock price CAGR of 60 per cent.

The company reported positive numbers in its Quarterly Results and annual results. The net sales increased by 100.6 per cent to Rs 65.55 crore and the net profit increased by 150.1 per cent to Rs 0.64 crore in Q2FY24 over Q2FY23.

On Friday, shares of Shree Oswal Seeds and Chemicals plunged 0.74 per cent to Rs 60.50 per share with an intraday high of Rs 61.80 and an intraday low of Rs 59.90. The stock gave multibagger returns of over 650 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.