Stock Split Likely to be Announced by This Smallcap Multibagger Iron and Steel Company; FIIs Increased Stake in Q1 FY25!

The company’s shares have delivered an impressive return of over 40 per cent to its shareholders in the past one month.

Godawari Power & Ispat Limited, engaged in iron ore mining and the manufacturing of iron ore pellets, sponge iron, steel billets, wire rods, H.B. wire, ferro alloys, and electricity generation, has scheduled a Board of Directors meeting for Wednesday, August 7, 2024. The agenda includes:

Reviewing and approving the unaudited standalone and consolidated financial results for the quarter ending June 30, 2024.

Considering the payment of a special dividend to mark the company’s 25th anniversary.

Evaluating a proposal for the sub-division or split of the company’s equity shares with a face value of Rs 5 each, as determined by the Board.

Godawari Power & Ispat Limited shares closed at around Rs 1097.95 per share. The company’s current market capitalization stands at Rs 14926 crore. The stock has delivered a multibagger return of over 100 per cent in the past 1 year.

As per the Quarterly Results, in Q1 FY24, Godawari Power & Ispat Limited recorded a revenue of Rs 1530 crore. The operating profit for Q1 FY24 stood at Rs 329 crore. The net profit for Q1 FY24 was Rs 219 crore. Looking at the annual performance, the company generated a revenue of Rs 5455 crore in FY24. The operating profit for FY24 was Rs 1328 crore with a net profit of Rs 936 crore.

According to the shareholding pattern of Godawari Power & Ispat Limited, promoters own 63.26 per cent of the shares, public shareholders hold 27.27 per cent, FIIs have increased their stake to 7.50 per cent from 5.54 per cent, and DIIs hold 1.96 per cent, down from 2.08 per cent.

Investors must keep this Small-Cap stock on their radar.

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