With a market capitalization of ₹ 513 crores, Goyal Aluminiums Ltd is a microcap stock. The company is engaged in diversified business activities including providing metal trading services, aluminium sheets and other aluminium products, cotton fabrics, printing machines, glass and so on.
The company’s shares clocked a fresh 52-week high of ₹ 362.90 apiece on the Bombay Stock Exchange on Thursday, after its board fixed April 25, 2023, as the record date for determining the eligibility of its shareholders for the purpose of sub-division/ split of its equity shares in the ratio of 1:10. Each equity share of the company with the face value of ₹ 110 will be subdivided into ten equity shares of the face value of ₹ 1 each.
In the past six months, the company’s shares have given multibagger returns of 281.84%, as its share price rallied from ₹ 95.00 apiece to the current level of ₹ 362.75. Therefore, if an investor had invested ₹ 1 lakh in the company’s shares six months ago, the value of their holdings would have been ₹ 3.81 lakhs today!
The company has disclosed its plans to enter the market for electric vehicles through a newly formed venture Wroley E India. It plans to produce low-speed electric scooters for the domestic market and it has already received clearance from the Central Institute of Road Transport (CIRT) to launch its first high-speed electric scooter in April this year.
About three weeks ago, White Field Investment Fund SCPS acquired 1.70 lakh shares in a bulk transaction, at a price of ₹ 315.80 per share.
The company has a return on equity of 7.23% and an ideal debt-to-equity ratio of 0.18. Its promoters hold a 71.03% stake in it followed by retail investors with 28.96% and foreign institutions with 0.01%.
Written by Simran Bafna
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