Promoters bought 30,000 shares: Penny Stock Below Rs 30; Company Announces Positive Results & 2nd Interim Dividend
The stock is up by 50 per cent from its 52-week low of Rs 18.87 per share and gave multibagger returns of 300 per cent in 5 years.
Today, shares of Bhatia Communications & Retail Ltd plunged 2.31 per cent to Rs 28.30 per share with an intraday high of Rs 29.80 per share and an intraday low of Rs 28.04 per share from its previous closing price of Rs 28.97 per share. The stock’s 52-week high is Rs 38.90 and its 52-week low is Rs 18.87.
The company has declared a second interim dividend of Re 0.01 per equity share, representing 1 per cent of the face value of Re 1, for the financial year 2024-25. The dividend will be paid to shareholders within the timeframe specified by the Companies Act, 2013. The record date for this dividend is Wednesday, November 27, 2024.
Bhatia Communications & Retail (India) Limited is a major player in the retail and wholesale distribution of mobile devices, accessories, home appliances, and other electronic products. The company boasts strong partnerships with leading brands such as Apple, Samsung, OnePlus, Vivo, Oppo, Realme, Xiaomi, Motorola, Techno, Nothing, Noise, Boat, HP, Lenovo, Fire Boltt and more. With an average capital expenditure of Rs 8 to 10 lakhs per store, Bhatia Communications operates a network of 172 stores across India, including 160 owned stores and 12 franchise stores.
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Results: According to the Quarterly Results, the net sales increased by 16 per cent to Rs 107.32 crore in Q2FY25 compared to net sales of Rs 94.36 crore in Q2FY24. The net profit increased by 48 per cent to Rs 3.66 crore in Q2FY25 compared to Rs 2.47 crore in Q2FY24. In its half-yearly results, the net sales increased by 11 per cent to Rs 212.14 crore and the net profit increased by 21 per cent to Rs 7.31 crore in H1FY25 compared to H1FY24.
The company has a market cap of Rs 350 crore with a PE of 34x, an ROE of 19 per cent and an ROCE of 21 per cent. The promoters of the company bought 30,000 shares and increased their stake to 73.88 per cent in September 2024 compared to 73.85 per cent in June 2024. The stock is up by 50 per cent from its 52-week low of Rs 18.87 per share and gave multibagger returns of 300 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.