Board likely to announce stock split: Meeting scheduled for May 2024, Stock gains over 500 per cent!

The company's shares have delivered a multibagger return of over 640 per cent to their shareholders in the past five years.

Incorporated in 1960, NHC Foods Limited is a manufacturer and exporter of whole and blended spices.

Recent Update:

The company has informed its investors that it has scheduled a Board of Directors meeting on Thursday, May 30, to consider and approve:

• stock split of face value of the equity shares of the company in such manner as may be determined by the Board of Directors and subject to such approval as may be required.
• Increase in Authorized Share Capital of the company and subsequent alteration to the Memorandum of Association of the company.
• Raising of funds by way of equity shares through rights issue subject to such regulatory / statutory approvals as may be required.

Also, read Mukul Agrawal portfolio company announces robust results: Net profits skyrocket by 2,600 per cent, stock gains 200 per cent in just one year!

Share Performance:

Today, this micro-cap company’s stock opened at Rs 44.20 and closed at Rs 44.37 per share on the BSE. The stock has delivered a multibagger return of around 517 per cent in the past three years and 642 per cent over the past five years. The current market capitalisation of the company stands at Rs 52.60 crore.

Financial Performance:

As per Quarterly Results in Q3 FY24, NHC Foods reported revenues of Rs 46.34 crore, reflecting a growth of 35.42 per cent YoY compared to the same quarter in the previous year, when the revenue stood at Rs 34.22 crore. The company posted an operating profit of Rs 1.37 crore for the quarter, in contrast to an operating profit of Rs 1.68 crore in the corresponding quarter of the previous year. Furthermore, the company reported a net profit of Rs 0.43 crore, compared to a net profit of Rs 0.28 crore in the same period last year.

The company’s ROCE and ROE are 12.1 per cent and 7.17 per cent while the shares are trading at a PE of 26.8 times in the market. 

Investors must keep this micro-cap multibagger stock on their radar.

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