670 per cent returns in this multibagger stock & Promoters increase stake; Board announces bonus issue of shares!

The stock is up by 45 per cent in just 1 year and a whopping 670 per cent over the past 3 years.

Krishana Phoschem Ltd informed that the Board of Directors of our company has approved bonus shares in the ratio of 1:1 i.e., allotment of bonus shares in the ratio of 1 (One) new equity shares of Rs 10 each for every 1 (One) existing equity shares of Rs 10 each of the company held by the existing shareholders as on the ‘Record Date’ to be determined by the Board. The company fixed the record date for the bonus shares as Wednesday, October 25, 2023.

The company's fully paid-up equity shares of Rs 10 each ex-traded a dividend of Rs 0.50 per share (or 5 per cent) for the financial year 2022-2023. The ex-date for the final dividend was September 21, 2023.

On Friday, the shares of Krishna Phoschem Ltd gained 0.13 per cent to Rs 501.65 per share. The stock’s 52-week high is Rs 559.40 and its 52-week low is Rs 336.05.

Krishna Phoschem Limited, incorporated in 2004, is engaged in the manufacturing of fertiliser and chemicals. The company was acquired by the Ostwal Group in 2007. The company has a market cap of over Rs 1,400 crore and has delivered good profit growth of 101 per cent CAGR over the last 5 years.  

Additionally, the company reported excellent numbers in its Quarterly Results (Q1FY24) and annual results (FY23). The net sales increased by 152.30 per cent to Rs 165 crore and the net profit increased by 100 per cent to Rs 12 crore in Q1FY24 over Q1FY23. In the June quarter (Q1FY24), the promoters of the company increased their stake from 64.83 per cent to 65.46 per cent.

The stock is up by 45 per cent in just 1 year and a whopping 670 per cent over the past 3 years. Investors should keep an eye on this micro-cap stock.

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