1:5 Stock split: Turnaround multibagger financial services company announces record date for subdivision of its shares, keep it on your watchlist!
The company's shares have delivered an impressive return of over 2400 per cent to their shareholders in just 3 years only.
This micro-cap NBFC (Non-Deposit) company incorporated in 1983, specializes in investment and trading of shares as well as providing loans. Visco Trade Associates has announced the record date for the stock split.
According to the press release the Company has fixed Friday, June 14, 2024, as the record date to determine the eligibility of shareholders for the split/sub-division of its shares. The shares will be split from a face value of Rs. 10/- each to a face value of Rs. 2/- each, as approved by the shareholders at the Extraordinary General Meeting held on Monday, April 29, 2024.
On Friday the company’s stock closed the day at Rs 289.10 per share on the BSE representing a fall of around 1.77 per cent compared to the previous day’s closing price of Rs 294.30. Additionally, the stock has delivered a multibagger return of around 280 per cent in just 1 year only.
As per Quarterly Results in Q4 FY24, the company reported a quarterly revenue from operation of Rs 37.31 crore compared to a revenue of Rs 28.18 crore, representing a growth of 32 per cent on YoY basis. The net profit of the company stood at Rs 5.37 crore in Q4 FY24 compared to a net loss of Rs 8.56 crore.
Turning attention to the annual performance of the company, it reported a revenue of Rs 211 crore, compared to Rs 78 crore in FY23 representing a gain of 172 per cent YoY. Moreover, the company’s net profit stood at Rs 33 crore in FY24 compared to the loss of Rs 8.51 crore representing a gain of 490 per cent YoY.
According to the shareholding pattern, the company's promoters hold 67.66 per share while the public or retail investors hold 32.35 per share.
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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