Asha Mukul Agrawal-Backed Multibagger Company Likely to Announce Buyback on July 11, 2024; Keep This Stock on Your Radar!

The company’s shares have delivered an impressive multibagger return of around 125 per cent in just 1 year.

Incorporated in 1981, KDDL Ltd manufactures watch components such as dials and hands, along with precision engineering goods sold under the brand name Eigen. According to a press release, the company has announced that a meeting of the Board of Directors of KDDL Ltd willconvene on Tuesday, July 9, 2024, to discuss a proposal for the buyback of fully paid-up equity shares valued at Rs 10 each.

Ace investor Mukul Agrawal's wife, Asha Mukul Agrawal, owns a 3.38 per cent stake in the company. Looking at the shareholding pattern of KDDL promoters own 50.22 per cent stake, while FIIs and DIIs hold 11.46 per cent and 1.63 per cent stakes, respectively. The government also owns a stake of approximately 0.11 per cent. The remaining 36.58 per cent stake is owned by public or retail investors.

KDDL Ltd shares closed the day at Rs 3106.85 per share. The company’s current market capitalization stands at Rs 3957.21 crore. The stock has delivered a return of over 120 per cent in just 1 year.

As per the Quarterly Results, in the fourth quarter of FY24, KDDL Ltd recorded a revenue of Rs 348 crore. The operating profit for Q4 FY24 stood at Rs 61 crore. The net profit for Q4 FY24 was Rs 35 crore. Looking at the annual performance, the company generated a revenue of Rs 1391 crore in FY24, compared to Rs 1119 crore in FY23. The operating profit for FY24 was Rs 248 crore, with a net profit of Rs 137 crore.

Investors must keep this Small-Cap stock on their radar.

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