The shares of this leading Engineering, Procurement, and Construction (EPC) contracting company gained 4.5% to ₹403 after the board approved the stock split in the ratio of 1:10.
At 11:20 a.m., Hazoor Multi Projects Ltd. shares were trading at ₹400 per share, up 3.96 % on the Bombay Stock Exchange from the previous close price. The company has a market capitalization of ₹747 crore.
What Happened: On July 26, 2024, the board of Hazoor Multi Projects Ltd approved the recommendation to split the company’s shares, reducing the face value from Rs. 10 each to Re. 1 each.
The company’s board of directors has declared a stock split in a 1:10 ratio. Consequently, shareholders will receive 10 additional shares for each share held. The company board has yet to declare a record date for a stock split.
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About the company: Hazoor Multi Projects Limited is engaged in the infrastructure and real estate business. The company is also in the business of infrastructural development and works as a sub-contractor in executing various national highway road projects.
Financials: The company’s revenue grew by 590% year-over-year, rising from ₹112 crore in FY21-22 to ₹775 crore in FY22-23. During the same period, net profit surged by 1700%, increasing from ₹2.48 crore to ₹45.48 crore.
Hazoor Multi Projects Ltd shares have increased by 20% in the last six months and have risen by 233% over the past 12 months.
The company’s margins have improved over time, with the net profit margin increasing from 5.87 percent in FY23 to 11.20 percent in FY24, and the operating margin increasing from 8.11 percent to 15.16 percent.
According to the recent shareholding pattern, the company’s promoter holds a 21.08% stake, while retail investors hold a 59.75% stake and Foreign Institutional Investors hold a 19.18% stake in the company.
Written by Omkar Chitnis
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