Multibagger from 52-week low; Board announced stock split and stellar quarterly results!

Shares of this company have gained more than 105 per cent in the last one year.

Edvenswa Enterprises Limited informed in the exchange filing that the company’s board has approved a sub-division/split of the face value of the equity shares of the company from the existing Rs.10 (Rupees Ten only) per equity share to Rs.1.00 (Rupee One Only) per equity share. The record date for the sub-division of the equity shares shall be decided by the board and will be intimated to the exchanges.

Furthermore, in Q4FY23, the revenue of the company stood at Rs 16.96 crore which grew by 72.36 per cent YoY. The operating profit of the company stood at Rs 1.66, with a slight improvement of 16.90 per cent YoY, and the PAT of the company declined by 25 per cent YoY, staying at Rs 1.69 crore.

Edvenswa Enterprises Limited has delivered multibagger returns to its shareholders. During this period, shares of Ion Exchange (India) Limited surged from Rs 19.59 on June 20, 2022, to Rs 40.80 on June 01, 2023, an increase of about 108 per cent in a one-year holding period.

Edvenswa Enterprises Limited has been engaged in the business of manufacturing and marketing electrical products such as load isolators and load-back switches. In 2007, the manufacturing operations remained discontinued. A foreign collaboration agreement has been signed with Eli Union of Austria for the exchange of technical know-how to manufacture isolator and load back switches.

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