Keep this penny stock below Rs 2 under the radar as Board announces record date for 2:1 stock split; PAT Jumps 6,963 Per Cent YoY
From Re 0.98 per share (52-week low) to Rs 1.83 per share, the stock gave 86.7 per cent returns.
Today, shares of Srestha Finvest Ltd plunged 1.61 per cent to Rs 1.83 per share from its previous closing of Rs 1.86. The stock’s 52-week high is Rs 2.56 while its 52-week low is Re 0.98.
About the Company
Established in 1985, Srestha Finvest Ltd. is a multifaceted financial services company offering various solutions, including loans, financing, and investments. They hold a specific regulatory license: a Category B Non-Systematically Important Non-Deposit Taking NBFC - Investment and Credit Company. This allows them to provide loans secured by various assets (securities, movable and immovable properties), offer hire purchase and leasing options, and engage in trading and investing shares. The company has a market cap of Rs 161.54S crore.
stock split Update
Srestha Finvest Ltd.'s Board of Directors has set Monday, September 23, 2024, as the Record Date. This date will determine which shareholders are eligible for the sub-division of their fully paid-up equity shares. Each share with a face value of Rs 2 will be split into 2 fully paid equity shares, each with a face value of Re 1. This sub-division was approved by shareholders in a postal ballot held on September 5, 2024.
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Quarterly Results
The total revenue increased by 1,634 per cent to Rs 3,950 lakh in Q1FY25 compared to the total revenue of Rs 227.80 lakh in Q1FY24. The company reported a net profit of Rs 3,100.62 lakh in Q1FY25 compared to a net profit of Rs 43.90 lakh in Q1FY24, an increase of 6,963 per cent.
Annual Results
The total income increased by 269 per cent to Rs 1,013.01 lakh in FY24 compared to the total income of Rs 274.56 lakh in FY23. The company reported a net profit of Rs 173.86 lakh in FY24 compared to a net loss of Rs 497.41 lakh in FY23, an increase of 135 per cent. The company reported a net profit in FY24 after reporting a net loss for the past 5 years i.e., FY23, FY22, FY21, FY20 and FY19.
From Re 0.98 per share (52-week low) to Rs 1.83 per share, the stock gave 86.7 per cent returns. 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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