The shares renewable energy company hit a 2 percent upper circuit to an all-time-high price of Rs 10,715.20 per share after the company board approved the stock split and bonus issue of equity shares.
On Tuesday’s early trade, SG Mart Ltd stock hit a 2 percent upper circuit and stock belongs to the small-cap category with a market capitalization of Rs 5,975 crore.
The company board of directors considered and approved a proposal for a stock split of equity shares of the company in the ratio of 1:10, which means a sub-division of the equity shares from one equity share having a face value of Rs 10 each into 10 equity shares having face value of Rs 1 each.
Additionally, the company board also approved the Bonus Issue of Equity Shares in a 1:1 ratio, which means the company would issue one bonus share for every share owned by existing shareholders. According to the company exchange filing.
In terms of financials, revenue increased by 49 percent yearly, from Rs 506 crore in Q2FY24 to Rs 748 crore in Q3FY24. Similarly, net profit increased 89 percent, from Rs 9 crore to Rs 17 crore.
SG Mart shares have delivered a multibagger return of 370 percent in the last six months and 2,352 percent in a year. A shareholder investment of Rs 1 lakh in the company would be worth Rs 4.70 lakhs in six months.
Additionally, the company’s EBITDA increased by 54 percent from Rs 11 crore in Q2FY24 to Rs 17 crore in Q3FY24.In the December quarter of FY 23-24, the Company’s client base increased to 426 from 315 clients in the September quarter.
The company formerly known as Kintech Renewables Limited, is primarily engaged in the renewable energy business. The company is an Independent Power Producer engaged in the business of power generation.
The company is also an Engineering, Procurement, and Construction (EPC) Company which is in the business of turnkey for renewable power solutions like wind farm/solar rooftop development, and wind power generation.
The company’s brand partners in tiles and fittings include Havells, Kajaria, Amba Shakti TMT, and many more.
Written by Omkar Chitnis
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