Shares of this microcap company clocked a 5 percent circuit in Monday’s trading session after announcing a record date for stock split and bonus share. In one year, the shares have delivered a multibagger return of 290 percent to its shareholders.
With a market capitalisation of Rs. 85.8 crores, the shares of Ishan International Ltd started Monday’s trading session on a higher note at Rs. 119.10 compared to its previous close of Rs. 113.45. Within, a few minutes of the opening bell the shares clocked 5 percent upper circuit at Rs. 119.10 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that they had fixed 25th January 2024 as the record date, for the stock split in the ratio 10:1 i.e. Sub-division of 1 Equity Share of the face value of Rs. 10 each fully paid-up into 10 Equity Shares of the face value of Rs. 1 each fully paid up.
Furthermore, on the same date, the company also announced the issuance of bonus shares in the ratio 2:1 i.e. 2 Bonus Equity Shares of the face value of Rs. 1 each fully paid up for every 1 existing Equity Share of Face Value of Rs. 1 each fully paid up.
Coming onto the company’s financial statements, the revenue declined by 60 percent from Rs. 22.34 crores in the June quarter to Rs. 9.01 crores during the September quarter. In addition, the net profits decreased from Rs. 95 lakhs to Rs. 2 lakhs during the same timeframe.
Looking at the important financial ratios, the return on equity stood at 3.33 percent during FY22-23 and during the same time frame, the return on capital employed was recorded at 6 percent.
According to the latest shareholding pattern, the Promoters hold 68.10 percent of shares and the remaining 31.90 percent stake is with Retail Investors.
Headquartered in Gujarat, Ishan International was incorporated in 1995. The company is engaged in contracting and building projects that focus on supplying machines, installation, commissioning, and operational training for sugar plants, jaggery plants, pharmaceutical plants, hydropower plants, and pollution control systems.
Written By Vaibhav Patil
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