Multibagger in just 1 year; Board likely to announce bonus shares!

The stock gave multibagger returns of 185 per cent in just 1 year whereas BSE Sensex Index is up by 22 per cent.

Sunrise Efficient Marketing informed that a meeting of the Board of Directors of the company is scheduled to be held on Monday, July 03, 2023 at 1:00 P.M. at the Registered Office of the company inter alia, to transact the following major businesses:

1. To discuss, consider and approve the issue of bonus shares to the equity shareholders of the company. The Company will inform in due course, the “Record Date” for determining shareholders entitled to receive bonus shares.
Sunrise Efficient Marketing Limited engages in the business of trading, distributing, and wholesaling different types of industrial products such as electrical items, electronic items, spare parts, etc. The company distributes automotive parts, gearboxes, motors, pumps, oils, and FMCG products.

SEML has a market cap of Rs 120.60 crore. The net sales increased by 77.34 per cent to Rs 60.81 crore and net profit increased by 280.92 per cent to Rs 6.59 crore in H2FY23 over H2FY22. The net sales increased by 50.66 per cent to Rs 96.83 crore and net profit increased by 63.60 per cent to Rs 8 crore in FY23 over FY22.

On Friday, at the closing bell, shares of Sunrise Efficient Marketing plunged 1.93 per cent to Rs 241 per share with an intraday high of Rs 244.90 and an intraday low of Rs 240. The stock has a PE of 14.60x, a ROE of 104 per cent and a ROCE of 57.20 per cent.\

The stock gave multibagger returns of 185 per cent in just 1 year whereas BSE Sensex Index is up by 22 per cent. Investors should keep an eye on this micro-cap stock under the radar.