Multibagger Penny Stock Under Rs 55 in Focus as Board Allotted 1,31,000 Shares to Divya Bhandari on Conversion of Warrants
From Rs 0.13 to Rs 50.38 per share, the stock rocketed by 38,650 per cent in 5 years.
Hazoor Multi Projects Limited informed that its fund-raising committee, in their meeting held on Tuesday, April 15, 2025, approved the allotment of 1,31,000 equity shares with a face value of Re 1 each at an issue price of Rs 30 each (including a premium of Rs 29 each). This allotment is a consequence of the conversion of 13,100 warrants, originally issued at Rs 300 each, to Divya Bhandari, a member of the "Non-Promoters/Public Category," on a preferential basis. This conversion follows the sub-division of the Company's equity shares and upon the receipt of the balance amount of Rs 29,47,500, representing 75 per cent of the issue price per warrant (Rs 225 per warrant), under SEBI (ICDR) Regulations, 2018, with no warrants remaining pending for conversion.
Additionally, Square Port Shipyard, a subsidiary of Hazoor Multi Projects Limited located in Dabhol, Ratnagiri (formerly owned by Bharati Defence Infrastructure Limited), has entered into a significant Memorandum of Understanding (MoU) with Damen Technical Cooperation B.V., a group company of the renowned Damen Shipyards Group N.V. This collaboration aims to develop Square Port's shipyard into an efficient, profitable, and sustainable facility capable of constructing Damen's diverse portfolio of ships for both the Indian and international markets, leveraging Damen's extensive expertise in ship design, construction, repair, maintenance, and associated maritime services through its global network of shipbuilding and repair yards.
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About the Company
Hazoor Multi Projects Ltd is a leading Indian company that builds roads, bridges, and other civil engineering projects. They focus on good quality, safety, and finishing projects on time. They're known for doing excellent work. They have skilled workers and the right equipment to handle big and complex projects. Hazoor Multi Projects helps India grow by building important infrastructure that boosts the economy and makes travel easier.
The company has a market cap of over Rs 1,000 crore. The company reported net sales of Rs 164.87 crore and a net profit of Rs 2.72 crore in its Quarterly Results (Q3FY25) while in its nine-month results (9MFY25), the company reported net sales of Rs 391.21 crore and a net profit of Rs 23.20 crore. Looking at its annual results (FY24), the company reported net sales of Rs 545 crore and a net profit of Rs 64 crore
The company's shares have a PE of 13x whereas the sectoral PE is 21x. The stock gave multibagger returns of 430 per cent in just 2 years and a whopping 2,100 per cent in 3 years. From Rs 0.13 to Rs 50.38 per share, the stock rocketed by 38,650 per cent in 5 years. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.