10:1 stock split: Heavy buying in this plywood penny stock under Rs 35; Scrip jumps 6.5 per cent; Earlier Board allocated 9 lakh equity shares to non-promoters
The stock is up by 22.35 per cent from its 52-week low of Rs 27 per share and gave multibagger returns of 880 per cent in a decade.
On Monday, the shares of Rushil Decor Ltd gained 6.50 per cent to Rs 34.87 per share from its previous closing of Rs 32.74 per share with an intraday high of Rs 34.87 and an intraday low of Rs 33.25. The stock’s 52-week high is Rs 45.50 and its 52-week low is Rs 27.
As per SEBI Listing Regulations, we hereby inform you that two allottees have exercised their option to convert 9,00,000 convertible warrants into 9,00,000 equity shares of the company of face value Re 1 each, at a premium of Rs 28.70 per share. This conversion is under Chapter V of the SEBI ICDR Regulations and the terms of warrant allotment. The Company will receive a subscription amount of Rs 29.7 per warrant (75 per cent of the issue price), totalling Rs 2,00,47,500. Post-allotment, the Non-promoter shareholding will increase to 45.37 per cent.
Furthermore, shares of the company underwent a 1:10 stock split on August 9, 2024, resulting in each Rs 10 face value share being divided into 10 shares of Re 1 face value shares.
Rushil Decor Ltd is primarily engaged in the manufacturing and sale of laminate sheets, medium-density fibre boards, prelaminated medium-density fibre board boards, polyvinyl chloride (PVC) boards and particle boards.
The company reported a 16 per cent increase in net sales to Rs 223.50 crore and a 1 per cent rise in net profit to Rs 12.31 crore for Q1FY25 compared to the same period last year. Net Debt to Shareholder Equity stood at 0.45x with Basic and Diluted EPS at Rs 4.61 and Rs 4.06 respectively. The company expanded its distribution network by adding 56 new dealers and 58 new distributors. The MDF board segment achieved an EBITDA of Rs 21 crore with a 12.4 per cent margin, while laminates contributed Rs 4.3 crore to EBITDA with a 9.1 per cent margin. Both segments optimized capacity utilization, with MDF at 91 per cent and laminates at 88 per cent and realised higher export prices than domestic sales.
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Annual results: The net sales increased by 0.7 per cent to Rs 843.97 crore in FY24 compared to FY23. The company reported an operating profit of Rs 122.79 crore and a net profit of Rs 43.11 crore in FY24 compared to an operating profit of Rs 150.77 crore and a net profit of Rs 77.67 crore in FY23.
The company has a market cap of Rs 922 crore. The stock is up by 22.35 per cent from its 52-week low of Rs 27 per share and gave multibagger returns of 880 per cent in a decade.
Disclaimer: The article is for informational purposes only and not investment advice.
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