Shares of this leading NBFC stock hit a 10 percent upper circuit, reaching a 52-week high after reporting net profit growth of 576 percent in the June quarter. Over the past three years, the share price has delivered nearly 1000 percent returns.
Price Movement
In Tuesday’s trading session, Luharuka Media & Infra Ltd. shares opened at a 52-week high and surged to a 10 percent upper circuit, reaching Rs.7.26 per share. This represents a notable rise from the previous closing price of Rs.6.6 per share.
What happened
Luharuka Media & Infra Ltd. has experienced a substantial increase in its stock price, largely driven by impressive growth in both revenue and net profit as outlined in the company’s financial results.
In the first quarter of FY25, the company reported a total revenue of Rs.1.33 crore, reflecting a staggering growth of 269 percent compared to Rs.0.36 crore in the same quarter of FY24. Furthermore, there was a remarkable quarter-over-quarter increase of 193.63 percent, with revenue rising from Rs.0.45 crore in the previous quarter.
The net consolidated profit for Luharuka Media & Infra Ltd. soared by 577 percent on a quarter-on-quarter basis, reaching Rs.0.61 crore in Q1 FY25, up from Rs.0.09 crore in the quarter ending March 2024. Year-over-year, the company also reported a significant net profit increase of 283 percent, growing from Rs.0.16 crore in the quarter ending June FY24.
As of June 2024, the Return on Capital Employed (ROCE) stands at 5.58 percent, while the Return on Equity (ROE) is 3.92 percent.
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Rights Issue and Dividend
Luharuka Media & Infra Limited has announced a 1:1 Rights Issue, approved by the Board of Directors. This means an investor holding one share before the record date will be entitled to an additional share upon applying for the Rights Issue. The company has fixed August 2, 2024, as the record date.
Additionally, the company has recommended a final dividend of Rs.0.02 per equity share with a face value of Re.1, equivalent to 2 percent of the paid-up equity share capital, for the financial year ending March 31, 2024.
New Product Launch
Luharuka Media & Infra Ltd. is launching a new suite of financial products under the brand name “DhanSafal” to enhance its market presence and offer transparent financial services.
The DhanSafal range includes Safal Udyog Loans for working capital needs, Safal MSME Loans, and Safal Sampati Loans secured against property. The mission of DhanSafal is to empower individuals and entrepreneurs to reach their financial objectives.
Shareholding Pattern
As of June 2024, the promoters of Luharuka Media & Infra Ltd. hold a majority stake of 51.53 percent, while retail investors own the remaining 48.46 percent stake.
About the company
Luharuka Media & Infra Ltd. operates in the financial sector, offering a diverse range of loan products. The company provides inter-corporate loans, loans secured by property, personal loans, loans against shares and securities, mortgage loans, auto and home loans, trade financing, bills discounting, and trading in shares and securities.
Written by – Siddesh S Raskar
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