On Thursday’s trade, the shares of this multi-bagger infrastructure touched the 5 percent upper circuit to an all-time high price of Rs 245.60 per share after the company board approved the raising of funds followed by a strong order.
Hazoor Multi Projects Ltd is a micro-cap stock, with a market capitalization of Rs 249 crore. The stock has been hitting the upper circuit for the last seven straight sessions. As per BSE data.
According to the company’s exchange filing, on December 6, 2023, the company’s board of Directors approved the raising of funds totaling up to Rs 97.90 crore by creating, issuing, and allocating up to 55,00,000 equity Shares with a face value of Rs.10/- each via Preferential Issue.
The company board is raising capital to accelerate the company’s growth and to boost its financial resources. Recently, the Company received orders worth Rs 1,130 crore to upgrade and rehabilitate a section on NH-66 in Ratnagiri.
Hazoor Multi Projects shares have increased by around 70 percent in a month and by 207 percent in a year. A Rs 1 lakh shareholder investment in the firm a year ago is now worth Rs 3.07 lakhs.
Company revenue has declined by 40 percent year on year, from Rs 189 crores in Q2FY23 to Rs 112 crores in Q2FY24. During the same period, Net Profit increased by 45 percent, from Rs 9 crores to Rs 13 crores.
The company’s margins have improved over time, with the net profit margin increasing from 2.20 percent in FY22 to 5.87 percent in FY23, and the operating margin increasing from 3.64 percent to 8.11 percent.
Hazoor Multi Projects Limited is engaged in the business of Infrastructure and Real Estate. The company is also in the business of infrastructural development and works as a sub-contractor in executing various national highway road projects.
Written by Omkar Chitnis
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