Shares of this multibagger stock under the ‘small-cap’ category are going to trade ex-split during the last week of October 2023. Currently, the company’s stock is in red.
With a market capitalization of Rs 1,261.72 crores, the stocks of BCL Industries Limited opened their trading hour on Monday at Rs 526.35 and currently trades at Rs 505, slipping around 3 percent as compared to the previous close of Rs 520.80 apiece.
The company, through a regulatory filing with the Bombay Stock Exchange (BSE) at the start of October 2023, the company’s Board of Directors announced a stock split in the ratio of 1:10. It means a sub-division of every fully-paid equity share of the face value of Rs 10 per share into ten fully-paid equity shares of the face value of Rs 1 per share.
The company, in the same announcement, had fixed the record date for the stock split to be October 27th, 2023.
Keeping a purview of 2 years, the company’s stock has delivered multibagger returns of approximately 115 percent, moving up from Rs 235 in October 2021 to the current price level. The same means that if someone had invested Rs 1 lakh into the stock 2 years ago, it would have converted to Rs 2.15 lakhs.
During the recent financial quarters, the company has reported a marginal dip in numbers as far as the basic business indicators such as the operating revenues and after-tax profits are concerned.
The operating revenues fell from Rs 456.96 crores during Q4FY22-23 to Rs 428.67 crores during Q1FY23-24, and, the after-tax profit figures, during the same time horizon, moved down from Rs 24.6 crores to Rs 19.75 crores.
As per the shareholding pattern data available for the September 2023 quarter, the company’s Promoters hold a 60.41 percent stake followed by the Public (retail) investors holding the remaining 39.59 percent stake in the company.
Founded in 1976, BCL Industries Limited is involved in the edible oil business based in Punjab, India. The company operates through a wide range of segments such as oil & vanaspati, distillery, and real estate.
Written by Amit Madnani
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