2,100 per cent returns: Board announces stock split and reports 275 per cent jump in net profit; stock trades at high ROE & ROCE!
The stock gave multibagger returns of 108 per cent in 1 year, 465 per cent in 2 years and a whopping 2,100 per cent in 3 years.
Suratwwala Business Group Limited (SBGL) is engaged in the development and maintenance of commercial and residential real estate projects in Pune. The Board approved Sub-division/ stock split of each equity share of face value of Rs 10 each, fully paid into 10 equity shares of face value of Rs 1 each, fully paid up by alteration of Capital Clause of Memorandum of Association of the company. The Record date for sub-division/ stock split of existing equity shares will be intimated in due course.
Additionally, the company announced stellar Quarterly Results and half-yearly results. According to the quarterly results, the net sales increased by 36.4 per cent to Rs 18.34 crore and net profit increased by 39 per cent to Rs 8.2 crore in Q2FY24 compared to Q2FY23.
According to the half-yearly results, the net sales increased by 156 per cent to Rs 34.59 crore and net profit increased by 275 per cent to Rs 15.7 in H1FY24 compared to H1FY23. In its annual results, the net sales increased by 7,744 per cent to Rs 62.28 crore in FY23 compared to FY22. The company reported a net profit of Rs 21.16 crore in FY23 compared to a net loss of Rs 10.76 crore in FY22.
Today, shares of SBGL plunged 0.12 per cent to Rs 441.25 per share with an intraday high of Rs 451 and an intraday low of Rs 434.80. The stock’s 52-week high is Rs 459.90 and its 52-week low is Rs 434.80.
The shares of the company have an ROE of 4,186 per cent and an ROCE of 79.5 per cent. The stock gave multibagger returns of 108 per cent in 1 year, 465 per cent in 2 years and a whopping 2,100 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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