With a market capitalization of ₹ 2,028 crores, Tips Industries is a small-cap company engaged in the business of production and distribution of motion pictures and the acquisition and exploitation of music rights. It is also a leading producer of Punjabi films in the country.
At 12:26 PM on Wednesday, its shares were trading at ₹ 1632.45 apiece, up 3.38%. However, they rose from ₹ 1,463.80 apiece to ₹1,656.75, gaining 13.18% in two days. This happened after the company announced a sub-division of its shares.
In an exchange filing, Tips Industries informed the bourses that it has fixed Friday, April 21, 2023, as the record date for the purpose of determining the eligibility of shareholders for the sub-division/split of its shares.
The company’s shares currently have a face value of ₹ 10 each, and they will be divided into 10 shares having a face value of ₹ 1 each. This subdivision is subject to approval by the shareholders through postal ballot by way of electronic means as of March 27, 2023.
The share price of Tips Industries has risen from ₹ 496.05 to ₹ 1,632.45 in the past two years, giving multibagger returns of 229.09%. In fact, it reached an all-time high of ₹ 2620.3 apiece on 18th January 2022.
If an investor had invested ₹ 1 lakh in the company’s shares one year ago, the value of their holdings would have been ₹ 3.29 lakhs today! However, it is important to note that its share price has declined by 30.08% in the past year.
The company posted revenue of ₹ 50.98 crores in the quarter that ended December 31, 2021 (Q3 FY23) up 15.26% as compared to ₹ 44.23 crores posted in the corresponding quarter last year (Q3 FY22). Its net profit increased marginally to ₹ 20.19 crores in Q3 FY23, as compared to ₹ 19.93 crores in Q3 FY22. Therefore, its net profit margin has declined from 45.05% to 39.61%.
Written by Simran Bafna
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
