1:3 Bonus share announcement: This multibagger micro-cap company announced bonus issue, stock rallied over 5 per cent today!
The stock has delivered a remarkable return of over 1,141 per cent in the past 3 years.
In recent development, this micro-cap company specializes in trading and manufacturing water treatment products. The company supplies a wide range of components and spares for water treatment plants to OEMs and end-users. Additionally, it assembles parts and sells customized products tailored to customer needs. The company conducts its business through multiple branches and an online portal, catering to the B2B market. Filtra Consultants & Engineers Ltd was incorporated in 2011 and has made a significant announcement regarding the bonus issue.
Bonus Share Announcement
The Board of Directors has proposed the issuance of bonus shares in the ratio of 1:3. This means that for every 3 fully paid-up Equity Shares held by Members as of the record date, shareholders will receive 1 fully paid-up Equity Share. The recommendation is subject to approval by the shareholders at the 13th Annual General Meeting scheduled to take place on Tuesday, July 2, 2024.
Pending approval from the Shareholders at the Annual General Meeting, it is proposed to issue 27,41,000 fully paid Equity Shares of Rs 10 each, amounting to Rs 2,74,10,000. These shares will be issued through the capitalization of surplus accounts or free reserves.
Share Performance of Filtra Consultants & Engineers
On Wednesday, the company's stock closed at around Rs 104.50 per share on the BSE, with a market capitalisation of Rs 85.93 crore. Additionally, the stock has delivered a multibagger return of around 165 per cent in the past year.
According to the Quarterly Results, in Q4 FY24, the company reported a revenue of Rs 56.44 crore and a net profit of Rs 1.52 crore. In FY24, the company reported a revenue of Rs 99.76 crore and a net profit of Rs 3.57 crore, compared to a net profit of Rs 3.44 crore in the previous year. Recently the company has announced a final dividend of Rs 3 per share for the FY24.
Investors must keep this micro-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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