Multibagger auto ancillary stock gains 2 percent after the company’s board announces its decision to increase its authorised capital and considers to raise funds of not more than 200 Crores by way of further public offering (FPO).
At 3:20 the shares of Pavna industries were trading at Rs. 439.55 a piece up by 1.42 percent from its previous day close price and the market capitalization of the company is 535.11 Cr.
As per the company’s filing, Pavna Industries Board recommended fund raising by way of further public offer(FPO) of equity shares to the extent not exceeding Rs.200 Cr subject to the approval of the Members through Postal ballot.
In addition to this, it has considered and approved increase in authorised capital from Rs.15 Cr to Rs.18 Cr
It has delivered multibagger returns of 140 percent in a year and 66 percent in the last six months. A shareholders investment of 1 lakh would be worth 2.4 lakh in a year.
The company’s revenue increased by 14.77 percent from 315.61 Cr in FY22 to 362.22 Cr in FY23, accompanied by decreasing profits of 9.15 Cr to 8.64 Cr.
The company reported a return on equity (ROE) of 14.9 percent and return on capital employed of 12.46 percent this indicates that the company is making decent returns on its equity and capital employed.
Pavna Industries Limited is a full-service die caster in Zinc and Aluminum, the Company is engaged in the business of manufacturing automotive parts, providing solutions for automobile applications and automobile aftermarket solutions.
Written by: Bharath K.S
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.
