Vijay Kedia’s portfolio gains Rs 119 crore & receives Rs 75 lakh as dividend in just 1 year from this multibagger stock with Rs 796 crore order book; Stock split announced

The stock delivered multibagger returns, with eye-popping gains of 135 in just 1 year, 1,000 per cent in 3 years, and a staggering 2,600 per cent in 5 years.

On Wednesday, shares of Elecon Engineering Company Ltd surged 15 per cent and made a fresh new 52-week high of Rs 1,354.40 per share from its previous closing of Rs 1,178 with a spurt in volume by more than 6 times on BSE. The stock delivered multibagger returns, with eye-popping gains of 135 in just 1 year, 1,000 per cent in 3 years, and a staggering 2,600 per cent in 5 years.

Elecon Engineering Company Ltd., established in 1960, manufactures industrial equipment with a global presence, specializing in power transmission and material handling equipment. They design, manufacture and sell this equipment across India and internationally. Additionally, Elecon operates a steel and non-ferrous foundry business, giving them a well-rounded approach to industrial equipment production. Notably, they were the first to introduce modular design concepts, case-hardened, and ground gear technology in India, showcasing their commitment to innovation in the power transmission sector.

The Board of Directors of the company has proposed a final dividend of Rs 2 (i.e. 100 per cent) per equity share have a face value of Rs 2 per share. Additionally, the Board has approved the sub-division of the equity shares i.e., the existing 1 equity share of the face value of Rs 2 each will be split into 2 equity shares of the face value of Rs 1 each.

Also Read: Vijay Kedia’s portfolio multibagger penny stock under Rs 70 with Rs 18,663 crore order book rockets 6 per cent today; do you own it?

According to the Quarterly Results, the net sales increased by 33 per cent to Rs 564.62 crore and net profit increased by 52.6 per cent to Rs 101.18 crore in Q4FY24 compared to Q4FY23. In its annual results, the net sales increased by 26.7 per cent to Rs 1,937.32 crore and net profit increased by 49.1 per cent to Rs 349.17 crore in FY24 compared to FY23. As of March 2024, two ace investors, Vijay Kedia owns a 1.34 per cent stake and Ajay Upadhyaya owns a 1.78 per cent stake in the company.

From its 52-week low of Rs 543.05 per share to Wednesday’s closing price of Rs 1,336.80 per share, the stock is up by Rs 793.75 per share or 146.2 per cent. As of March 2024, Vijay Kedia owns 14,99,999 shares or a 1.34 per cent stake. In FY24, the Board announced a total of Rs 5 per share dividend.

Therefore, 14,99,999 shares x Rs 793.75 per share = Rs 119 crore from its 52-week low and 14,99,999 shares x Rs 5 per share dividend = Rs 75 lakh in just 1 year.

The company has a market cap of over Rs 15,000 crore and the company’s order book stands at Rs 796 crore as of March 31, 2023. Investors should keep a close eye on this Small-Cap stock.

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