On Friday this small-cap stock gained 3.6 percent after the company board approved 1:1 Bonus issue to its equity shareholders.
Safari industries ltd is a small cap company with Market capitalization of Rs 9,663.04 crores,.The company shares were trading at Rs 4,182.55. a share, up 2.94 percent from the previous close price..
According to the exchange filing,The company board of directors approved the bonus issue of equity shares in a 1:1 Ratio.which means the company would issue one bonus issue share for every share owned by the existing shareholders.
Safari industries will credit bonus shares for eligible shareholders within 2 months from the date of board’s approval i.e. on or before 31 December 2023.
The Company’s revenue rose by 17.97 percent year on year from 316.09 crores Q2FY23 to 372.9 crores Q2FY24,During the same time frame, net profit rose by 53.27 percent from 25.94 crores to 39.76 crores .
Ace investor Ashish Kachola holds 5,00,000 shares,i.e equivalent to 2.10 percent of the company as of september quarter 2023.
The stock has delivered a multibagger return of 128.62 percent in a year. As a result, if an investor bought 1 lakh company shares in the previous year, their shares are now worth 2.28 lakhs!
As per recent shareholding pattern, The Promoters of the Company own 46.97 percent of the stake,while foreign institutional investors hold a 12.95 percent stake.
The company posted impressive return ratios for FY23, with a return on equity of 34.66 percent and return on capital Employed at 43.37 percent.
The company Safari Industries manufactures and sells luggage as well as accessories for luggage.
Written by :- Abhishek Singh
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