1:150 bonus share record date announced: Debt-free penny stock under 2 to keep under radar; Earlier bagged order of Rs 61,43,42,414 from Reliance Industries Ltd
IFL Enterprises has a market cap of Rs 88.70 crore and gave multibagger returns of 125 per cent in 3 years & a whopping 380 per cent in 5 years.
The company's Board of Directors has declared a bonus issue of equity shares in a ratio of 1:150. This means shareholders will receive one new equity share of Re 1 for every 150 existing equity shares held on the record date. The Board fixed the record date for bonus shares as Saturday, September 21, 2024.
IFL Enterprises Limited's subsidiary, Yamunashtakam Tradeventures Private Limited, has secured a substantial contract valued at Rs 61,43,42,414 from Reliance Industries Limited. This order entails supplying construction materials for their Jamnagar plant, marking a significant milestone for the subsidiary. The contract signifies a new partnership with Reliance Industries Limited, as there's no existing shareholding between the two companies. IFL Enterprises anticipates securing additional orders from Reliance in the upcoming quarter, which is expected to boost revenue growth and strengthen its market position. This achievement highlights the company's dedication to providing high-quality services and its strategic focus on expanding its client base within the industrial sector.
Furthermore, IFL Enterprises' promoter, Mr Nishant Subhash Chandra Gandhi, recently acquired 12,60,000 shares through open market transactions. This move demonstrates his confidence in the company's future and reaffirms his support for its strategic direction. Additionally, IFL Enterprises is expanding its operations into international trading of agro commodities, gemstones, and precious metals through its Dubai-based subsidiary. This strategic expansion aims to capitalize on global market opportunities and diversify the company's revenue streams. Notably, the company has achieved a significant milestone by clearing all outstanding debts, solidifying its financial stability and positioning itself for sustainable growth.
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IFL Enterprises Ltd, founded in 2009, is an Indian company that deals in two main areas: trading financial instruments like shares, stocks, and bonds, and trading various paper and stationery products. They offer a wide range of paper items including writing paper, coated paper, different paper sizes, copier paper, duplex board, art and craft paper and notebooks.
According to Quarterly Results, the net sales increased by 670 per cent to Rs 15.30 crore in Q1FY25 compared to net sales of Rs 1.99 crore in Q4FY24. The company reported a net profit of Rs 0.03 crore in Q1FY25 compared to a net loss of Rs 0.68 crore in Q4FY24. IFL Enterprises has a market cap of Rs 88.70 crore and gave multibagger returns of 125 per cent in 3 years & a whopping 380 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.
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