Multibagger Penny Stock Under Rs 50: Company Allots 3,27,500 Equity Shares Consequent to Conversion of Warrants
The stock gave multibagger returns of 175 per cent in just 2 years and a whopping 1,615 per cent in 3 years.
Hazoor Multi Projects Limited's fund-raising committee approved the allotment of 3,27,500 equity shares at Re 1 face value each, priced at Rs 30 (including a Rs 29 premium). This follows the conversion of 32,750 warrants, after adjusting for a stock split where one Rs 10 share became ten Re 1 share. The company received Rs 73,68,750 from a non-promoter/public category allottee, Venkatraman Subramanian, representing 75 per cent of the warrant issue price (Rs 225 per warrant). This allotment increases the company's issued and paid-up capital to Rs 22,44,33,910, comprising 22,44,33,910 equity shares of Re 1 each. These new shares hold equal ranking with the existing ones. The company noted that 8,852,450 warrants remain outstanding, with holders able to convert them into an equal number of equity shares by paying the remaining 75 per cent (Rs 225 per warrant) within 18 months of the original warrant allotment date (June 25, 2024).
Earlier, the company secured a one-year contract worth Rs 22.995 crore from the National Highways Authority of India. The company will collect user fees at the Shrishikalan Fee Plaza on NH-76 in Uttar Pradesh and handle the upkeep of nearby toilet facilities. This contract supports the rehabilitation and upgrading of the Kabarai-Banda Section to a two-lane highway.
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.
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The company has a market cap of over Rs 900 crore. The company reported net sales of Rs 249 crore and a net profit of Rs 17 crore in its Quarterly Results (Q4FY25) while in its half-yearly results (H2FY25), the company reported net sales of Rs 414 crore and a net profit of Rs 20 crore. Looking at its annual results (FY25), the company reported net sales of Rs 638 crore and a net profit of Rs 40 crore. The Board has recommended a final dividend of Re. 0.20 per equity share (20 per cent) for the financial year 2024-25. Additionally, the Board has approved the proposal to list the company's securities on the Main Board of the NSE, pending fulfilment of all listing criteria and receipt of necessary approvals.
In FY25, DIIs took a fresh entry and bought 8,08,983 shares or 0.39 per cent stake compared to FY24. The company's shares have a PE of 10x whereas the sectoral PE is 21x. The stock gave multibagger returns of 175 per cent in just 2 years and a whopping 1,615 per cent in 3 years. From Rs 0.13 to Rs 43.97 per share, the stock rocketed by over 33,723 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.