Stock Hits Upper Circuit After Small-Cap Multibagger Announces 3:1 Bonus Shares; Stock Gains Over 200 per cent in Just 6 Months Only!
The company's shares have delivered an impressive return of over 320 per cent to their shareholders in just 1 year.
GRP Ltd established in 1974, is a manufacturer of reclaimed rubber from used tyres, upscaled polyamide from nylon waste, and engineered products die-cut from end-of-life tyres. Today the company saw a significant spike in both the share price and volumes in today.
On Saturday, June 29, 2024, the Company reviewed and authorized the issuance of bonus Shares through the capitalization of general reserves. These bonus shares will be offered to the Company's equity shareholders at a ratio of 3 new fully paid-up Equity Shares of Rs 10 each for every 1 existing fully paid-up Equity Share of Rs. 10 each held by eligible shareholders as of the Record Date, to be decided by the Board. This issuance is subject to shareholder approval and other necessary regulatory/statutory clearances.
Currently, shares of GRP Ltd are at Rs 15349 per share on the BSE. The current market capitalization of the company stands at Rs 2046.53 crore. Additionally, the stock has delivered a multibagger return of over 320 per cent in just 1 year.
As per Quarterly Results in Q4 FY24, GRP Ltd reported a quarterly revenue from operation of Rs 138 crore compared to a revenue of Rs 96 crore, representing a growth on a YoY basis. The net profit of the company stood at Rs 12 crore in Q4 FY24 compared to a net profit of Rs 3 crore. Turning attention to the annual performance of the company, it reported a revenue of Rs 461 crore, compared to Rs 451 crore in FY23 representing a gain of 2.30 per cent YoY. Moreover, the company’s net profit stood at Rs 23 crore in FY24 compared to a profit of Rs 14 crore.
Regarding the shareholding pattern of GRP Ltd, the promoters own 40.36 per cent of the company and the public or retail investors hold 59.64 per cent.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.