380 per cent returns: Board announced stock split of equity shares; FIIs increased stake!
Shares of this company have gained more than 43 per cent in the last six months.
Surya Roshni Limited informed in the exchange filing that the company’s board has approved a Split or Sub-Division of one (1) equity share of the face value of Rs 10 each fully paid up into 2 (two) equity shares of the face value of Rs 5/- each fully paid-up. The record date for the sub-division of the equity shares is fixed on, October 06, 2023.
Surya Roshni Limited has delivered multibagger returns to its shareholders in the last three years. During this period, shares of Surya Roshni Limited surged from Rs 201.25 on September 18, 2020, to Rs 976.00 on September 18, 2023, an increase of about 380 per cent in a three-year holding period.
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Furthermore, in Q1FY24, the company posted robust Quarterly Results. The revenue of the company stood at Rs 1875.27 crore which increased by 1.92 per cent YoY. The operating profit of the company stood at Rs 116.23 crore, which increased by 64.56 per cent YoY, while the PAT of the company increased by 165.24 per cent YoY, staying at Rs 59.13 crore. In Q1FY24, FIIs increased their stake in the company from 2.54 per cent in March 2023 to 4.87 per cent in June 2023.
Surya Roshni Limited was incorporated in 1973 for manufacturing of ERW pipes, sold under the brand name of ‘Prakash-Surya’. In 1985, SRL diversified into lighting products with the manufacturing of general lighting systems (GLS) and fluorescent tube lamps (FTL) sold under the brand name ‘Surya’ and started the production of compact fluorescent lamps (CFLs) in 2007.
The stock has shown tremendous growth and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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