Multibagger Textile Stock; Board Announce 1:1 Bonus Shares & PAT Jumps Per Cent
The stock is down by 32 per cent from its 52-week high of Rs 289 per share and up 33 per cent from its 52-week low of Rs 147 per share.
On Tuesday, shares of Dhanalaxmi Roto Spinners Ltd plunged 6.34 per cent to Rs 195.75 per share from its previous closing of Rs 209 per share with an intraday high of Rs 215.95 per share and an intraday low of Rs 191.30 per share. The stock is down by 32 per cent from its 52-week high of Rs 289 per share and up 33 per cent from its 52-week low of Rs 147 per share.
Dhanalaxmi Roto Spinners Ltd, established in 1986, operates in the wood pulp, paper, and waste paper market. The company offers a diverse range of products, including bleached and unbleached wood pulp, various paper products like writing and printing paper, sack kraft paper, and newsprint, as well as specialized items such as melamine, carboxymethyl cellulose, and microcrystalline cellulose powder.
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According to Quarterly Results, the net sales increased by 52 per cent to Rs 68.88 crore and net profit increased by 89 per cent to Rs 2.49 crore in Q3FY25 compared to Q3FY24. In its nine-month results (9MFY25), the company reported net sales of Rs 143.89 crore and a net profit of Rs 4.85 crore while in its annual results (FY24), the company reported net sales of Rs 197 crore and a net profit of Rs 13 crore.
The company announced a bonus issue of equity shares. A total of 3,900,300 shares, amounting to Rs 3,90,03,000, will be issued. These bonus shares will be drawn from the company's retained earnings, subject to shareholder approval. The bonus ratio is 1:1, meaning one new share will be issued for every existing share held by eligible shareholders on the record date.
The company has a market cap of Rs 76.3 crore. The promoters of the company own 47.64 per cent stake, DIIs own 0.01 per cent stake and the rest per cent is owned by public shareholders. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.