Multibagger railway engineering stock with 1,475 per cent returns; Board announces 10:1 stock split
The stock gave multibagger returns of 1,250 per cent in 2 years and a whopping 1,475 per cent in 3 years.
Today, shares of K&R Rail Engineering Ltd gained 0.91 per cent to Rs 496.05 per share from its previous closing of Rs 491.60 with an intraday high of Rs 509 and an intraday low of Rs 480.10. The stock’s 52-week high is Rs 863.35 and its 52-week low is Rs 414.
The Board of Directors of the company announced the stock split in the ratio 10:1 i.e., sub-division/stock split of existing 1 equity share of face value of Rs 10 each fully paid up into 10 equity shares of Re 1 each fully paid up. The record date for the sub-division of equity shares will be intimated to the Exchanges subsequently, after the approval of the resolution for SUb-division by the shareholders at EGM.
According to Quarterly Results, the company reported net sales of Rs 152.75 crore and a net loss of Rs 7.78 crore in Q4FY24 compared to net sales of Rs 207.10 crore and net profit of Rs 3.23 crore in Q4FY23. In its annual results, the net sales increased by 70 per cent to Rs 662.41 crore and net profit increased by 24 per cent to Rs 7.79 crore in FY24 compared to FY23.
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K&R Rail Engineering Ltd is engaged in carrying on the business of laying private railway sidings on a turnkey basis. The company has a market cap of over Rs 1,000 crore and has delivered good profit growth of 204 per cent CAGR over the last 3 years
Earlier, K&R Rail Engineering Ltd partnered with South Korean company UNECO Co., Ltd. to establish a Rs 400 crore Composite Sleeper Plant in Nagarnar, Madhya Pradesh, to cater to Indian Railways, DFCC/METROs, PSUs, and private corporations. The plant, expected to be operational in 48 months, will be located near the NMDC Steel Plant. This collaboration with UNECO, an unrelated third party, aims to fulfil the diverse needs of the Indian railway infrastructure sector through the production of composite sleepers.
The stock gave multibagger returns of 1,250 per cent in 2 years and a whopping 1,475 per cent in 3 years. Investors should keep an eye on this Small-Cap stock in the upcoming sessions.
Disclaimer: The article is for informational purposes only and not investment advice.
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