This Small-cap Company Announces Share Split; Stock Surged 20 per cent and Hits Upper Circuit Today with Heavy Volumes – Complete Details Inside!
The company’s shares have delivered impressive multibagger returns of over 170 per cent to their shareholders.
Incorporated in 1994, Nandan Denim Ltd specializes in manufacturing denim, shirting materials, yarn, and various types of fabrics. In a recent board meeting held on Monday, June 17, 2024, the Board of Directors approved the subdivision/split of the Company's equity shares. Currently having a face value of Rs. 10/- each, the shares will be subdivided into 10 equity shares with a face value of Re. 1/- each, fully paid up. This decision is subject to approval from the Company's shareholders and other necessary regulatory authorities. The company will announce the record date for the subdivision/split to the Stock Exchanges in due course. Additionally, the alteration of the Capital Clause of the Memorandum of Association will be undertaken following the subdivision/split of the equity shares, pending approval from the Company's shareholders.
Share Performance of Nandan Denim Ltd:
On Tuesday the company's stock closed at around Rs 52.82 per share on the BSE, with a market capitalization of Rs 761.39 crore. Additionally, the stock has delivered a multibagger return of 174 per cent in the past 1 year only.
Financial Performance of Nandan Denim Ltd:
In FY24, it reported revenue of Rs 2010 crore, representing a year-on-year de-growth of 0.82 per cent from Rs 2027 crore last year. The company posted an operating profit of Rs 118 crore, compared to a profit of Rs 84 crore last year. The company’s net profit stood at Rs 45 crore in FY24, compared to Rs 1 crore in FY23, representing a YoY gain of around 4400 per cent. As per Quarterly Results, in Q4 FY24 the company’s revenue surged by 27 per cent with net profit growing by 800 per cent YoY during the same period.
Investors must keep this Small-Cap multibagger stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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