From Rs 0.23 to Rs 2.27 per share in just 3 years & Stock Split from Rs 10 to 1 done last year: Multibagger penny stock gains over 4 per cent on July 11; do you own it?
From Rs 0.23 to Rs 2.27 per share, the stock gave multibagger returns of 887 per cent in just 3 years.
Sylph Technologies Ltd, established in 1992, offers a diverse range of services beyond its core software development, encompassing newspaper distribution, financial instrument trading, solar power plant trading, IT services, newspaper printing, business process outsourcing, and knowledge process outsourcing. The company has a market cap of Rs 75 crore and its 100 per stake is owned by the public shareholder.
Today, shares of Sylph Technologies Ltd gained 4.13 per cent to Rs 2.27 per share from its previous closing of Rs 2.18. The stock’s 52-week high is Rs 5.30 and its 52-week low of Rs 1,85. Today, shares of the company saw a spurt in volume by more than 1.01 times on BSE.
According to the Quarterly Results, the net sales increased by 109.54 per cent to Rs 5.25 crore in Q4FY24 compared to Rs 2.51 crore in Q4FY23. The company reported a net loss of Rs 1.82 crore in Q4FY24 compared to a net profit of Rs 0.10 crore in Q4FY23. In its annual results, the net sales increased by 247.2 per cent to Rs 15.75 crore in FY24 compared to Rs 4.54 crore in FY23. The company reported a net loss of Rs 2.51 crore in FY24 compared to a net profit of Rs 0.76 crore in FY23.
Also Read: Low PE, high ROE & high ROCE stock at Rs 123 zooms over 5 per cent in just 1 day – Company from IT-Software Industry; PAT jumps over 100 per cent!
Sylph Technologies Ltd.’s board approved the conversion of 7,35,82,667 warrants into the same number of equity shares. These shares were offered preferentially to non-promoters and the public at a face value of Re 1 each. The conversion required a final payment of Rs 40 per warrant (representing 75 per cent of the issue price) from the allottees exercising their conversion rights. This resulted in a total payment of Rs 17,65,98,400. Due to this conversion, the company's paid-up capital has grown to Rs 23,30,82,667, consisting of 23,30,82,667 equity shares. These new shares have the same rights as the existing ones. It's important to note that 16,84,17,333 warrants are still outstanding, allowing holders to convert them into shares by paying the remaining 75 per cent of the conversion price within a specific timeframe.
The company's share capital was split from 10 shares with a face value of Rs 10 each to 10 shares with a face value of Rs 1 each. The stock split took effect on June 02, 2023. From Rs 0.23 to Rs 2.27 per share, the stock gave multibagger returns of 887 per cent in just 3 years.
Disclaimer: The article is for informational purposes only and not investment advice.
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