FIIs bought 19,29,785 shares of this multibagger civil construction company; Board likely to announce stock split & scrip trades at low PE & high ROE
The stock gave multibagger returns of 170 per cent in just 1 year; 1,765 per cent in 3 years and a whopping 23,870 per cent in 5 years.
Today, shares of Hazoor Multi Projects Ltd was locked in 5 per cent upper circuit to Rs 342.75 per share from its previous closing of Rs 326.45. The stock has a 52-week high of Rs 454 and its 52-week low is Rs 110.
Hazoor Multi Projects Ltd informed that meeting of Board of Directors of the company is scheduled to be held on Friday, July 26, 2024, at 11.30 A.M. at the registered Office of the Company inter alia, to transact following major businesses: To consider the sub-division/ stock spilt of the equity shares of the company and Annual Report for Financial Year 2023-24. And also various other things will be discussed in the meeting.
About the Company
Hazoor Multi Projects Ltd, founded in 1992, has transitioned from residential construction to focus on infrastructure development. They primarily act as a subcontractor on national highway projects for government agencies like the Maharashtra State Road Development Corporation and the National Highways Authority of India. Additionally, Hazoor Multi Projects has ventured into the EPC (Engineering, Procurement, and Construction) contracting business. The company has a market cap of over Rs 600 crore.
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Standalone Results: According to Quarterly Results, the total income increased by 68 per cent to Rs 138.04 crore and net profit increased by 1.6 per cent to Rs 10.45 crore in Q4FY24 compared to Q3FY24. In its annual results, the company reported a total income of Rs 494.60 crore in FY24 compared to Rs 776.19 crore in FY23 while the net profit increased by 20.5 per cent to Rs 54.90 crore in FY24 compared to a net profit of Rs 45.58 crore in FY23.
Consolidated Results: According to quarterly results, the total income increased by 472 per cent to Rs 467.59 crore and net profit increased by 449 per cent to Rs 53.94 crore in Q4FY24 compared to Q3FY24. In its annual results, the company reported a total income of Rs 549.31 crore and a net profit of Rs 63.77 crore in FY24.
In June 2024, FIIs bought 19,29,785 shares and increase their stake to 19.18 per cent compared to 10.92 per cent in March 2024. The shares of the company have a PE of 11.5x whereas the sectoral PE is 19x with an ROE of 86 per cent & an ROCE of 84 per cent. The stock gave multibagger returns of 170 per cent in just 1 year; 1,765 per cent in 3 years and a whopping 23,870 per cent in 5 years. 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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