The maker of architectural equipment Hardwyn India Ltd. shares surged 4.3% on Wednesday to reach an intraday high of ₹ 431.95 apiece from the previous close price of ₹ 414.
The stock price rose as the company released a strong Q4 FY 22-23 performance.
The company’s net profit grew by 125% in Q4FY23 to Rs 3.73 crore from Rs 1.66 crore in Q4FY22.
In addition, the company’s board recommended an issue of bonus shares in a 1:3 ratio (i.e. for every three equity shares held by the investor, the company will give out one additional share) and a 1:10 stock split, as per BSE.
At 2:00 pm, the stock was trading at ₹ 426.85 on the BSE, up 3.38 percent from its previous close.
In a year, the company’s share price increased from 149.83 to current levels, providing multibagger returns of 184.32%. As a result, if an investor had invested Rs 1 lakh in the previous year’s shares, the investment would be worth Rs 2.84 lakh today!
Hardwyn India Ltd is engaged in the manufacturing of architectural hardware and glass fittings in India. The firm serves both residential and commercial projects.
On a year-on-year basis, revenue increased by 48 percent from 84 crores in FY 21-22 to 125 crores in FY 22-23. The PAT numbers have shifted upwards by 165 percent within the timeframe mentioned, from ₹ 3.41 crores to ₹ 9.03 crores.
In recent years, the company’s margins have improved, with the net profit margin improving from 4.02 percent in FY 21-22 to 7.22 percent in FY 22-23, and the operating profit margin increasing from 6.26 percent to 10.89 percent.
According to the latest shareholding pattern, promoters of the company hold a 43.77 percent stake, and the public holds a 55.71 percent stake in the company for FY 22-23.
Written by Omkar C
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