9:1 Bonus Issue: Multibagger Company Announces Bonus Shares for the Second Time in a Row, DIIs Bought Stake for the First Time—Stock Surges Over 2,000 Per cent in Just 2 Years!
The company’s shares have delivered a multibagger return of over 400 per cent in the last 1 years.
This Small-Cap company announced on Saturday, October 26, that its board has approved the issuance of bonus shares in a 9:1 ratio. This means that eligible shareholders will receive nine new bonus equity shares of Rs 10 each for every existing equity share of Rs 10 they hold, with the record date to be announced later. Earlier, the company previously issued bonus shares at a 1:1 ratio in 2022, granting one free share for each share held.
Sky Gold Ltd is engaged in the business of designing, manufacturing, and marketing gold jewellery. The co. follows a B2B model where the products are mainly sold to mid-range jewellers and boutique stores that sell these products through online platforms and retail stores.
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At the start of the day's trading session, the stock opened at Rs 3478.30 per share, compared to the previous day's closing figure of Rs 3434.35 per share on the BSE. Finally, the shares closed at Rs 3478.30 per share. The company's current market capitalization stands at Rs 5097.10 crore, and the stock has generated an impressive multibagger return of over 400 per cent in the past 1 year.
As per the Quarterly Results, in Q1 FY25, Sky Gold Ltd recorded a revenue of Rs 723 crore. The operating profit for Q1 FY25 stood at Rs 37 crore. The net profit for Q1 FY25 was Rs 21 crore representing a gain of 91 per cent YoY compared to a profit of Rs 11 crore. Looking at the annual performance, the company generated a revenue of Rs 1745 crore in FY24, compared to Rs 1154 crore in FY23. The operating profit for FY24 was Rs 77 crore with a net profit of Rs 40 crore.
According to the latest shareholding data, the promoters have reduced their stake from 62.51 per cent to 58.24 per cent. Meanwhile, foreign institutional investors (FIIs) have increased their holdings by 0.25 per cent to 1.38 per cent, while domestic institutional investors (DIIs) have made their first purchase, acquiring a stake of 6.31 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.