Stock Split likely to be announced on May 24: Small-cap company’s Board allots 1,90,000 warrants which are convertible into equal number of equity shares to 5 investors!

The stock gave multibagger returns of over 700 per cent in a decade.

Today, the shares of Rushil Decor Ltd plunged 5.93 per cent to Rs 310.20 per share from its previous closing of Rs 329.75 with an intraday high of Rs 315.05 and an intraday low of Rs 304.90. The stock’s 52-week high is Rs 406.7 and its 52-week low is Rs 243.95.

Rushil Decor Ltd is primarily engaged in the manufacturing and sale of laminate sheets, medium-density fibre boards, prelaminated medium-density fibre board boards, polyvinyl chloride (PVC) boards and particle boards.

The Board of Directors of the company has approved the allotment of 1,90,000 equity shares of the company of a face value of Rs 10 each, at a premium of Rs 287 per share, pursuant to the exercise and conversion of 1,90,000 convertible warrants (out of the 41,30,000 convertible warrants allotted) against receipt of the balance subscription amount (i.e. 75 per cent of the issue price} to the allottees.

Additionally, the Board of Directors of the company is scheduled to hold a meeting on Friday, May 24, 2024, inter-alia, to consider and approve the proposal for sub-division / split of existing equity shares of the company, having a Face Value of Rs 10 each, fully paid up, in such manner as may be determined by the Board of Directors, subject to the approval of Shareholders of the Company and/ or any other regulatory/ statutory approvals (if any).

Quarterly Results: The net sales increased by 9.1 per cent to Rs 233.43 crore and operating profit increased by 9.1 per cent to Rs 31.14 crore in Q4FY24 compared to Q4FY23. The company reported a net profit of Rs 9 crore in Q4FY24 compared to a net profit of Rs 13.56 crore in Q4FY23.

Annual results: The net sales increased by 0.7 per cent to Rs 843.97 crore in FY24 compared to FY23. The company reported an operating profit of Rs 122.79 crore and a net profit of Rs 43.11 crore in FY24 compared to an operating profit of Rs 150.77 crore and a net profit of Rs 77.67 crore in FY23.

The company falls under the BSE Small-Cap Index and has a market cap of over Rs 800 crore. The stock gave multibagger returns of over 700 per cent in a decade.

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