44,000 per cent multibagger returns: Penny stock under Rs 50; Board approves allotment of 10,00,000 equity shares to Rakesh Laroia on conversion of warrants
The stock gave multibagger returns of 285 per cent in just 2 years and a whopping 1,700 per cent in 3 years.
Hazoor Multi Projects Limited's fund-raising committee convened today, Friday, May 2, 2025, and approved the preferential allotment of 10,00,000 equity shares with a face value of Re 1 each at an issue price of Rs 30 (including a premium of Rs 29 each). This allotment follows the conversion of 1,00,000 warrants, originally issued at Rs 300 each, to Mr. Rakesh Laroia, a member of the Non-Promoters/Public Category. This conversion and allotment account for the post-subdivision of the company's equity shares and were executed upon receipt of the balance amount of Rs 2,25,00,000, representing 75 per cent of the issue price per warrant, in accordance with SEBI (ICDR) Regulations, 2018.
Earlier, Square Port Shipyard, a subsidiary of Hazoor Multi Projects Limited located in Dabhol, Ratnagiri (formerly owned by Bharati Defence Infrastructure Limited), has entered into a significant Memorandum of Understanding (MoU) with Damen Technical Cooperation B.V., a group company of the renowned Damen Shipyards Group N.V. This collaboration aims to develop Square Port's shipyard into an efficient, profitable, and sustainable facility capable of constructing Damen's diverse portfolio of ships for both the Indian and international markets, leveraging Damen's extensive expertise in ship design, construction, repair, maintenance, and associated maritime services through its global network of shipbuilding and repair yards.
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About the Company
Hazoor Multi Projects Ltd is a leading Indian company that builds roads, bridges, and other civil engineering projects. They focus on good quality, safety, and finishing projects on time. They're known for doing excellent work. They have skilled workers and the right equipment to handle big and complex projects. Hazoor Multi Projects helps India grow by building important infrastructure that boosts the economy and makes travel easier.
The company has a market cap of over Rs 700 crore. The company reported net sales of Rs 164.87 crore and a net profit of Rs 2.72 crore in its Quarterly Results (Q3FY25) while in its nine-month results (9MFY25), the company reported net sales of Rs 391.21 crore and a net profit of Rs 23.20 crore. Looking at its annual results (FY24), the company reported net sales of Rs 545 crore and a net profit of Rs 64 crore
The company's shares have a PE of 10x whereas the sectoral PE is 21x. The stock gave multibagger returns of 285 per cent in just 2 years and a whopping 1,700 per cent in 3 years. From Rs 0.09 to Rs 39.79 per share, the stock rocketed by 44,000 per cent in 5 years. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.