7,000 per cent returns in this multibagger stock; Board likely to announce stock split!
The share of the company has a PE of 20.11x whereas the industry PE is 40.50x with a ROE of 120 per cent and a ROCE of 96.30 per cent.
IEL Ltd informed the exchange (BSE Scrip Code: 524614) that the meeting of the Board of Directors of the Company is scheduled to be held on Friday, July 07, 2023 to consider and approve, inter alia, the following matters:
1. Fixing the venue, date and time of the 67th Annual General Meeting of the Company for the Financial Year 2022-23 and related matters.
2. To consider and approve the proposal for sub-division/ stock split of the existing equity shares of the company having a face value of Rs 10 each, fully paid up, in such manner as may be determined by the Board of Directors and subject to the approval of the Shareholders and/or any other regulatory/statutory approvals (if any).
3. Any other matter with the permission of the Chair.
After rising nearly 7,000 per cent over the period of 3 years, shares of IEL are undergoing a correction and have hit the lower circuit for the third straight day. Today, shares of IEL Ltd plunged 5 per cent to Rs 135.55 per share from its previous closing of Rs 142.65. The scrip saw a spurt in volume by more than 4.87 times on BSE.
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IEL Ltd does trading of chemicals and marketing support services. The company has a market cap of Rs 45.24 crore. The net sales increased by 1,630 per cent to Rs 11.07 crore and net profit skyrocketed by 640.62 per cent to Rs 2.37 crore in FY23 over FY22.
The share of the company has a PE of 20.11x whereas the industry PE is 40.50x with a ROE of 120 per cent and a ROCE of 96.30 per cent. Investors should keep an eye on this micro-cap multibagger stock under the radar.