4:1 Bonus Issue: This Multibagger Micro-Cap Company Announces Record Date for Bonus Share & Dividend, Stock Gains Over 135 per cent!
The company’s shares have delivered an impressive multibagger returns of around 138 per cent.
Incorporated in 1996, Goel Food Products Ltd operates within the banquet, hotel, and catering industries. Currently, the company operates 8 banquet halls, 2 Indian sweets and snack shops, 1 hotel, and 1 guest house. Its services encompass organizing a variety of events such as weddings, birthday parties, corporate gatherings, and cultural ceremonies at its banquet halls, alongside offering Indian snacks and sweets at its retail outlets.
The Record Date for determining eligibility to receive dividend and bonus shares, contingent upon shareholder approval, is set for July 15, 2024. If approved, dividends will be disbursed according to regulatory timelines.
In May 2024, the Board announced a dividend of 50 paise per fully paid-up equity share of Rs 10 each for FY24, pending shareholder approval at the upcoming Annual General Meeting. Additionally, it had proposed issuing 4 bonus shares for every 1 existing equity share held, subject to shareholder and regulatory approvals. The record date was to be determined by the Board post-shareholder approval and was to be communicated to the Stock Exchanges accordingly.
Share Performance:
Today Goel Food Products Ltd shares closed the day at Rs 171.55 per share. The company’s current market capitalization stands at Rs 64.68 crore. The stock has delivered a multibagger return of around 138 per cent compared to its final IPO issue price of Rs 72 per share.
Financial performance:
According to the Quarterly Results, in Q4 FY24, Goel Food Products Ltd reported a revenue of Rs 13.88 crore and an operating profit of Rs 6.14 crore. The operating profit margin for the quarter stands at 44.24 per cent. The company’s net profit stood at Rs 3.40 crore. In FY24, the company reported a revenue of Rs 24.14 crore compared to Rs 21.84 crore and a net profit of Rs 9.77 crore, compared to a profit of Rs 5 crore in the previous year.
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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