Multibagger stock recommends 1:1 bonus shares, scrip rallies 419% YTD


With a market capitalization of 317.99 Cr, Advait Infratech Ltd. is a small-cap business that operates in the industrial industry. Manufacturing OPGW (Optical Fibre Ground Wire), OFC cables, ACS (Aluminum Clad Steel Wire), ERS (Emergency Restoration System), and OPGW joint boxes are among the operational business of the company. Additionally, it produces and provides capital-stringing equipment for the transmission line’s construction. The firm also specialises in turnkey telecom projects, power transmission, substation construction, telecom product marketing, and liasioning -marketing. Along with its Q2 results, the company also announced 1:1 bonus shares. 

The company has said in a stock exchange filing that its Board of Directors has “Recommended lssue of Bonus Shares in the ratio of 1 (One) Bonus Equity Share against 1 (one) existing Equity Share, subject to approval of shareholders of the company.”

The balance amount available as per the audited financials are Rs. 30,04,44,940 and the required amount for bonus issue are Rs.5,10,00,000. The pre-bonus share capital is Rs. 51,00,000 and the post-bonus share capital is Rs. 1,02,00,000.

On a standalone basis, the company declared a net sales of 37.06 Cr posted in Q2FY23 compared to 29.23 Cr posted in Q2FY22, representing a YoY gain of 26.78%. The company declared a net profit of 3.47 Cr in Q2FY23 compared to 2.98 Cr in Q2FY22, representing a YoY gain of 16.44%. The EPS stood at 6.81 per share in Q2FY23 compared to 6.05 per share in Q2FY22.

On a consolidated basis, the company declared a net sales of 37.68 Cr in Q2FY23 compared to 33.71 Cr posted in Q2FY22, representing a YoY gain of 11.77%. The company declared a net profit of 2.60 Cr in Q2FY23 compared to 2.87 Cr, reported in Q2FY22, representing a YoY fall of 9.40%. The EPS stood at 5.11 per share in the quarter ended September 2022 compared to 5.64 per share posted in the same quarter last year.

The shares of Advait Infratech Ltd closed today at 623.00 apiece, down by 2.12% from the previous close of 636.50. The stock has produced a multibagger return of 1,113.24% over the past five years and 1,099.23% over the past three years. The stock has delivered a multibagger return of 628.65% over the last year, and it has generated a multibagger return of 419.17% so far in 2022 on a YTD basis. The stock has appreciated 266.47% over the past six months and 16.46% during the past month. For the quarter ended September or Q2FY23, the company reported a promoter shareholding of 73.52% and a public stake of 26.48%.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.


Source link

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments