2,965 per cent returns in this multibagger stock; Board announced stock spit of equity shares after bonus shares!

The stock gave multibagger returns of 2,965 per cent in just 3 years.

M K Proteins Ltd informed that the Board of Directors of the company has approved a stock split /sub-division of 1 equity share of the company having a face value of Rs 10 each into 10 equity shares of the company having a face value of Rs 1 each. The company has not declared the record date for the stock split yet and is tentatively within 2 months from the date of the Board's approval.

Earlier, the company issued bonus shares in the ratio of 2:1 which means that shareholders had received 2 bonus shares for each share held by the existing shareholder. The corporation verified that the record date for the issuance of bonus shares is Friday, February 03, 2023.  

On Friday, shares of M K Proteins Ltd surged 1.29 per cent to Rs 839.05 per share from its previous closing of Rs 828.35 with an intraday high of Rs 845 and an intraday low of Rs 809.65.

M K Proteins Limited owns and operates an edible oil production plant. The company produces and refines rice bran, canola, soya bean, and sunflower oil. M K Proteins serves customers in India.

Also read: Vijay Kedia gains Rs 4,83,31,875 from this multibagger penny stock below Rs 100 in just 21 days with robust order book worth Rs 2,961 crore; Do you own it?

According to Quarterly Results and annual results, the company reported positive numbers. In Q1FY24, the company reported net sales of Rs 76.20 crore and a net profit of Rs 2.49 crore. In FY23, the net sales increased by 23 per cent to Rs 315 crore and net profit increased by 10 per cent to Rs 11 crore compared to FY22.

The company has a market cap of Rs 1,050 crore. The shares of the company have an ROE of 24 per cent and a ROCE of 20 per cent with a 3-year CAGR of 212 per cent respectively. The stock gave multibagger returns of 2,965 per cent in just 3 years. Investors should keep an eye on this multibagger SME stock.

Disclaimer: The article is for informational purposes only and not investment advice.