400 per cent multibagger returns from 52-week low: Board likely to announce stock split; Scrip trades at low PE

The stock gave multibagger returns of over 400 per cent from its 52-week low of Rs 42.45 per share.

Shradha Infraprojects Ltd informed that a meeting of the Board of Directors of the company will be held on Saturday, October 26, 2024, to consider and approve: -

1. To consider, approve and take on records of un-audited Financial Results (Standalone & Consolidated) for the Second Quarter (Q-2) and half year ended September 30, 2024 along with the limited review report of the auditors for the corresponding period; as reviewed and recommended by the Audit Committee of the Company, as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended);
2. To consider a proposal for stock split/sub-division of the equity shares of the company having a face value of Rs 5 each, in such manner as may be determined by the Board of Directors, subject to regulatory/statutory approvals as may be required and the approval of the shareholders of the Company.
3. To approve the notice convening the General Meeting of the Members of the Company and calendar of events for conducting E-Voting u/s 108 of the Companies Act. 2013 and rules framed there under. (If the Board of Directors approves the Notice, the Company will also consider for approval of fixation of Book Closure Date & Cut-Off Date for E-Voting).

About the Company

Shradha Infraprojects Ltd is a real estate infrastructure development company established in 1987. Primarily operating in Nagpur, India, SIPL has a strong presence in residential, commercial, and hospitality sectors, offering mixed-use and single-segment developments. Their expertise extends to various construction projects, including highways, bridges, water supply, renewable energy, and urban development.

Beyond the development and sale of properties, SIPL also engages in leasing commercial spaces for corporate offices and educational institutions. Notable projects include Shradha House, Victoria House, Mangalam Shradha, and Shradha Busiplex. Currently, the company is undertaking a project to re-section the disturbed dam profile in Dhamtari District, Chhattisgarh, India.

The company has a market cap of Rs 339 crore and has delivered good profit growth of 40.9 per cent CAGR over the last 5 years. The shares of the company have a PE ratio of 16x whereas the industry PE is 31x. The stock gave multibagger returns of over 400 per cent from its 52-week low of Rs 42.45 per share. Investors should keep an eye on this micro-cap stock.

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

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