Multibagger Power Infra Company Announces 1:1 Bonus Issue; Stock Hits 52-Week High, Record Date Inside; FIIs and DIIs Increase Stake in Q1!

The company’s shares have delivered an impressive return of over 400 per cent in the past 2 years.

The Small-Cap power infra company’s board has decided to issue bonus shares in a 1:1 ratio, meaning shareholders will receive one bonus share for every fully paid-up equity share of Rs. 10 each they hold, pending approval from shareholders at the upcoming AGM. The board has also set Saturday, 28th September 2024, as the Record Date to determine the eligibility of shareholders.

Power Mech Projects established in 1999, is an engineering and construction firm engaged in the erection, testing, and commissioning (ETC) of boilers, turbines, generators, and balance of plant (BOP), as well as civil works and operation and maintenance (O&M). It handles ultra-mega power projects, supercritical thermal power projects, and subcritical power projects.

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Currently, the shares of Power Mech Projects are at around Rs 6610.70 per share on the BSE. The company’s current market capitalization stands at Rs 10441 crore. Additionally, the company’s shares have delivered a return of over 400 per cent in the past 2 years.

As per the Quarterly Results, in the Q1 FY25, Power Mech Projects recorded a revenue of Rs 1007 crore compared to Rs 865 crore. The operating profit stood at Rs 113 crore. The net profit stood at Rs 62 crore compared to a profit of Rs 51 crore. Looking at the annual performance, the company generated a revenue of Rs 4207 crore in FY24. The operating profit for FY24 was Rs 493 crore with a net profit of Rs 248 crore compared to a net profit of Rs 207 crore in FY23.

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Investors must keep this stock on their radar.

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