Stock below Rs 100: This low PE, high ROE company has declared a sub-division of equity shares; do you own it?

The stock PE multiple is just 8.57 whereas the industry PE multiple is 23.19 and high ROE of 32.7 per cent, all of this points to excellent managerial performance.

Today, shares of Filatex India Ltd. decreased by 0.16 per cent to close at Rs 94.80 per share. Recently, the corporation announced a 2:1 subdivision of equity shares. According to the organization, December 28, 2022, is the record date for the sub-division of shares. 

As of the record date, the corporation will divide its equity shares from Rs 2 per share to Rs 1 per share. In quarterly and annual financial statements, the corporation presented excellent figures. According to annual reports, profit in FY22 was only Rs 166 crore, it skyrocketed 83 per cent to Rs 303 crore in FY23. 

Filatex India Ltd manufactures and distributes a variety of polypropylene yarns. The company provides monofilament yarns to companies in India and around the world for the production of zippers, toothbrush bristles, velcro, magic fasteners and forming fabrics.  

The stock PE multiple is just 8.57 whereas the industry PE multiple is 23.19 and high ROE of 32.7 per cent, all of this points to excellent managerial performance. Over the 5 years, the stock gave multibagger returns of 117 per cent. Investors should keep an eye on this stock.