Shares of a multibagger stock gained 5 percent on Tuesday’s early trades to reach an intraday high of ₹ 783.65 apiece on the National Stock Exchange (NSE) after the company announced the sub-division of its equity shares.
In an exchange filing, Focus Lighting & Fixtures informed that its board has approved the sub-division of its equity shares in the ratio of 1:5. Therefore, each share of the face value of ₹ 10 each will be divided into five equity shares of the face value of ₹ 2 each. The record date for the split will be decided in due course.
Focus Lighting & Fixtures is engaged in the manufacturing and trading of innovative LED lights and fixtures.s. Its comprehension of lighting technology, the influence it can have on the viewer and the techno-aesthetic requirement of the market has enticed it to develop lighting solutions where the criteria are efficiency, colour rendition and trouble-free service life to achieve optimum lighting parameters.
The company’s shares delivered multibagger returns of 578.57 percent in the past year as its share price increased from ₹ 112.00 apiece to ₹ 760.00 apiece. Therefore, if an investor had invested ₹ 1 lakh in the company’s shares a year ago, the value of their holdings would have been ₹ 6.78 lakhs today!
Focus Lighting & Fixtures recently announced its results for the April to June quarter of the current financial year (Q1FY24). Its net profit increased by 308.89 percent to ₹ 9.17 crores in Q1FY24, as compared to ₹ 2.24 crores in Q1FY23. Its revenue jumped 96.69 percent to ₹ 52.98 crores in Q1FY24, compared to ₹ 26.93 crores in Q1FY23.
With a market capitalization of ₹ 974 crores, Focus Lighting & Fixtures is a micro-cap company. It has a high return on equity of 37.00 percent and an ideal debt-to-equity ratio of 0.03. Its shares were trading at a price-to-earnings ratio (P/E) of 33.09. The company’s promoters hold a 56.80 percent stake in it, while retail investors and others hold a 43.20 percent stake in the company.
Written by Simran Bafna
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