Josts Engineering Company Limited focuses on the business areas such as material handling, industrial finishing, and engineered products. The company has recently announced the splitting of its shares. It is a micro-cap company with a market capitalization of Rs 152 Crores.
Josts Engineering Company will split its shares in the ratio of 5:2. This means that the face value of Rs 5 per share will now be reduced to a new face value of Rs 2 per share. All the fractions resulting from the sub-division of equity shares shall be consolidated into whole equity shares and disposed of at the market price to the shareholders. For this purpose, the record date has been set as April 28th, 2023.
The shares of the company were trading marginally lower at Rs 827 levels till the afternoon of Monday. In the past five days, the stock has jumped by 14 percent, and in a year it has delivered 69 percent.
In a longer time frame, the stock has logged a multibagger return of 190 percent in two years as the stock price has risen up from Rs 284 a piece in April 2021 up to the current levels.
Recently, the company also approved the investment by way of the purchase of 39,73,800 Equity Shares of MHE Rentals India Private Limited (“MHE Rentals”), a Subsidiary Company, from the existing shareholders. The company will purchase 39,73,800 equity shares at a price of Rs. 17.30 per equity share.
Josts Engineering Company Limited caters to some of the important industries that include Defense, Power, Oil & Gas, Aerospace, Railways, Logistics, and Auto industries. The company’s clientele includes names such as Tata Power, Reliance Industries, ONGC, Indian Oil Corporation, HAL Ltd, BHEL, Mahindra & Mahindra, Indian Navy, and Indian Space Research Organisation (ISRO) among others.
The company is yet to announce its Q4 results. In Q3 of FY23, the company reported a total revenue of Rs 41.43 which jumped YoY from Rs 34.7 Crores. In the period, their net profits stood at Rs 2.27 Crore compared to Rs 1.89 Crore in Q3FY22.
Written by Anoushka Roy
