Sanjiv Shah’s and Mukul Agrawal’s portfolio multibagger stock with USD 2 million capex; Board likely to announce stock split & dividend!

The stock gave multibagger returns of over 200 per cent in just 6 months whereas BSE Small-cap Index is up by 29.12 per cent.

Pearl Global Industries Ltd inform that a meeting of the board of directors of the company is scheduled to be held on Wednesday, November 08, 2023, inter-alia to consider, approve and take on record the following:

1. Unaudited financial results (standalone & consolidated) for the quarter and half year ended September 30, 2023.

2. Second interim dividend for the financial year 2023-24.

3. Proposal for sub-division/ stock split of equity shares of the face value of Rs 10/- each of the company in such manner as the board may determine.

4. Exploring possibilities for raising funds by issue of securities, convertible/non-convertible, with or without warrant by way of public and/or private offerings and/or qualified institutions placement or any combination thereof, subject to the requisite approval of the members of the company and such other approvals as may be required.

As of September 2023, 2 ace investors, Sanjiv Shah and Mukul Agrawal own 7.62 per cent and 3.46 per cent stake in the company respectively.

Capex Plan: Pearl GT Holdco Ltd will incur a capex of up to USD 2 million in the subsidiary to expand the capacity up to 12 lines which shall generate an annual revenue of USD 20 million by manufacturing for their prestigious customers.

Pearl Global Industries Ltd. (PGIL) is a multinational garment exporter that was incorporated in India in 1987. The company manufactures a wide range of knitwear, womenswear, and bottoms for men, women, and children. PGIL has manufacturing facilities in multiple sourcing regions within India and South Asia. The company has a market cap of Rs 2,892 crore and has delivered good profit growth of 45 per cent CAGR over the last 5 years.

On Monday, shares of PGIL plunged 4.99 per cent to Rs 1,335 per share with an intraday high of Rs 1,449 and an intraday low of Rs 1,334.90. The stock gave multibagger returns of over 200 per cent in just 6 months whereas BSE Small-Cap Index is up by 29.12 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.