Akashdeep Metal Industries Limited is an NBFC and Investment Company, engaged in dealing with investment shares and providing loans and advances. The board of directors of the company has approved the splitting of the shares.
The company will split in the ratio of 1:5 which means that one equity share of the Company having a face value of Rs10 each fully paid-up will be subdivided into Five equity shares having a face value of Rs 2 each fully paid-up. For this purpose, the record date has been set as February 23rd, 2023.
The shares of the Akashdeep Metal were trading marginally higher at Rs 98.40 levels till the afternoon on Tuesday. In the past month, the stock has inched up by 13 percent while in the past six months, it has gained 15 percent.
A year ago the shares of the NBFC were trading at Rs 43 levels. From there it has scaled up to the current levels, logging a multibagger return of 123 percent in one year.
On the financial front, the company reported a total revenue of Rs 4.27 Crore, a 369 percent increase Year on Year from Rs 0.91 Crore. Compared to the previous quarter, their revenue increased 6 percent from Rs 4.03 Crore.
Their net profit in the quarter under review was at Rs 71 lakhs, a jump of 407 percent YoY from Rs 14 lakhs and 37 percent QoQ from Rs 49 lakhs.
The micro-cap company has a market capitalization of Rs 103 Crores. In addition to that, the promoters hold a 71.06 percent stake in the company with zero shares pledged while the remaining 28.94 percent is held by the public and others.
Written by Anoushka Roy
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