Shares of this multibagger small-cap stock associated with the entertainment industry traded in the green after the company released financial results for the quarter ended September 2023. In the last five trading days, the company’s stock has gained nearly 15 percent.
With a market capitalization of Rs 4,482.09 crores, the stocks of TIPS Industries Limited started their trading session on Wednesday at Rs 347.95 and closed at Rs 349, gaining approximately 2 percent as compared to the previous closing levels of Rs 343.45 apiece.
The company, in a recent filing with the exchange dated October 18th, 2023, released its financial results for the quarter ended September 2023. Moreover, the company declared payment of a second interim dividend for the financial year 2023-2024.
On a sequential basis, the company reported an increase in both, the operating revenues as well as after-tax profits, with the former increasing from Rs 55 crores during Q1FY23-24 to Rs 65 crores during Q2FY23-24, and, the latter, moving up from Rs 27 crores to Rs 40 crores.
Moreover, the company, on a YoY basis, has also showcased an increase in metrics discussed above with the operating revenues rising from Rs 51 crores during Q2FY22-23 to Rs 65 crores during Q2FY23-24, and, the after-tax profits shifting from Rs 21 crores to Rs 40 crores representing a gain of around 90 percent.
The company also declared a second interim dividend of Rs 2 per equity share, i.e., 200 percent of the face value of Rs 1 per equity share. It fixed October 31st, 2023 as the Record Date for the dividend payment mentioned above. The interim dividend is planned to be paid on or before November 15th, 2023.
Keeping a purview of six months, the company’s stock has delivered multibagger returns of 110 percent, i.e., if someone had invested Rs 1 lakh in the company’s stock six months ago, it would have converted to Rs 2.10 lakhs.
The latest shareholding data of the company portrays the Promoters holding a 75 percent stake, and the Foreign Institutional Investors (FIIs), recently increasing their stake, holding a 0.42 percent stake in the company.
TIPS Industries Limited is a company based in India that is associated with the media and entertainment industry. The principal business activities of the company comprise the production & distribution of cinematographic films and the exploitation of content on various platforms.
Written by Amit Madnani
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