IFL Enterprises Ltd stock opened its trading hour today at Rs 167.80 and is currently trading at a price of Rs 167.20. The stock showed an upside movement of around 3.5 percent in comparison to the previous closing price of Rs 161.25.
The company recently announced a 1:10 stock split and a 1:4 bonus issue. It has set April 21st, 2023 as the record date to determine the eligibility of shareholders to receive the benefits of these corporate actions.
Currently, the shares of IFL Enterprises have a face value of Rs 10 each. Once the shares are split in the ratio of 1:10, they will be divided into ten shares having a face value of Rs 1 each. Thereafter, bonus shares will be issued in a ratio of 1:4, which means shareholders will receive one bonus share of Rs 1 each against four equity shares of Rs 1 each.
Keeping a purview of one year, the stock has been able to provide multibagger returns of around 720 percent. It means that if someone would have invested Rs 1,00,000 in the stock then it would have converted to Rs 8,20,000 within a period of one year.
IFL Enterprises Limited is an India-based company that is engaged in the business of acquisition of trading of shares, stocks, and bonds. It also includes businesses of all kinds of fabrics and other similar products. The Company offers a range of products, which includes heavy fabric and fabric-related items.
Having a quick walkthrough of the financials, the revenues and net profits of the company have reduced on a QoQ basis. Revenues moved from Rs 1.74 crores in Q2 to Rs 0.5 crores in Q3. Moreover, the net profit figures showed a shift from Rs 0.24 crores in Q2 to Rs 0.14 crores in Q3.
The profitability ratios have worsened YoY with ROE moving from negative returns of 1.91 percent in FY20-21 to negative returns of 3.39 percent in FY21-22. ROCE figures moved from negative returns of 1.73 percent in FY20-21 to negative returns of 3.36 percent in FY21-22.
Written by Amit Madnani
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