Multibagger Stock engaged in the business of manufacturing and supplying granite & marble slabs and many more, hit a 2 percent upper circuit in the day’s trade upon declaring bonus issue of equity shares of the company in the ratio of 1:1.
With a market capitalization of Rs. 78 Crores, the shares of Nidhi Granites Limited hit a 2 percent upper circuit at Rs. 194.55. It has delivered multibagger returns of 190 percent in a year.
The board of directors of Nidhi Granites Limited has considered and recommended the issue of bonus equity shares of the company in the ratio of 1:1 where one new fully-paid bonus equity share will be given to every one equity share held in the company by the shareholders as on the record date.
Nidhi Granites Limited is engaged in the business of manufacturing and supplying granite & marble slabs, tiles, sandstone, limestone, and other related products.
Its revenue from operations grew by 55.62 percent from Rs. 6.85 Crores in Q3FY23 to Rs. 10.66 Crores in Q3FY24, accompanied by increasing profits of Rs. 12 Lakhs to Rs. 45 Lakhs.
It has reported a return on equity (ROE) of 8.15 percent and a return on capital employed (ROCE) of 11.2 percent, it is making decent returns on its equity and capital employed.
Written by: Bharath K.S
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