This Micro-cap stock touched a 10 percent upper circuit after the company board announced plans to declare a bonus issue of shares to equity shareholders at the forthcoming board meeting on October 18, 2023.
In Early trade on Wednesday, Alphalogic Industries Ltd shares touched a 10 percent upper circuit to an all-time high price of Rs 297.3 apiece on the Bombay Stock Exchange. The company has a market capitalization of Rs 151 crore.
According to the company’s BSE filings, The Alphalogic Industries board intends to consider and declare the issue of Bonus Shares to the company’s equity shareholders at a meeting scheduled on October 18, 2023.
Furthermore, the board is to consider and approve an increase in authorized share capital as well as a change to Capital Clause “V” of the Company’s Memorandum of Association.
The company’s shares have delivered a return of 209 percent in three months. A shareholder’s investment of Rs. 1 lakh in the company would be worth Rs. 3.09 lakhs in three months.
Alphalogic Industries revenue has increased by 130 percent year on year, from Rs 7.84 crore in FY 21-22 to Rs 18.02 crore in FY 22-23. During the same period, Net Profit has increased by 600 percent from Rs 0.31 crore to Rs 2.19 crore.
As per the latest shareholding pattern, Alphalogic Industries Ltd Promoter holds 73.66 percent while retail investors hold a 25.01 percent stake.
Alphalogic Industries specializes in the design, manufacturing, supply, and installation of industrial and institutional storage systems such as compactor storage systems and heavy-duty storage racks.
Written by Omkar Chitnis
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