Low PE Penny Stock Under Rs 15: Zero Bank Debt Company’s Board Announces 1:20 Bonus Shares
The stock is up by 26 per cent from its 52-week low of Rs 8 per share with a PE of 9x whereas the industry PE is 40x.
On Friday, shares of Jonjua Overseas Ltd plunged 5.20 per cent to Rs 10.05 per share from its previous closing of Rs 10.60 with an intraday high of Rs 10.80 and an intraday low of Rs 9.80.
Jonjua Overseas Ltd's Board of Directors has approved several significant proposals, pending shareholder approval at an Extra Ordinary General Meeting. A key decision is the increase in the company's Authorised Share Capital, which will rise from Rs 24,95,00,000 to Rs 49,95,00,000, necessitating an amendment to the Company's Memorandum of Association. Additionally, the Board has sanctioned a 1:20 bonus share issue, meaning one bonus equity share of Rs 10 each will be issued for every twenty shares held. This will result in the issuance of 11,54,607 new equity shares, increasing the total share capital from Rs 23,09,21,460 to Rs 24,24,67,530. The bonus issue, valued at Rs 1,15,46,070, will be funded from the company's free reserves, which stood at Rs 542.70 lakh (comprising Rs 369.18 lakhs in retained earnings and Rs 173.52 lakh in securities premium) as of the audited figures on March 31, 2025.
Furthermore, the Board has approved a modification to the limit for related party transactions, increasing it from Rs 20,00,00,000 to Rs 50,00,00,000, which also requires shareholder endorsement. The bonus issue is expected to be completed within two months from the date of board approval, targeting a likely completion date of August 25, 2025. The ex-date for the bonus shares will be announced separately by the board. These decisions collectively aim to enhance the company's financial structure and potentially improve shareholder value.
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Additionally, Hsjonjua Aeroinfra Private Limited has successfully completed its fully subscribed Rights Issue for FY 2025-2026, with promoters and promoter group companies, including Jonjua Air Limited and Jonjua Overseas Limited, receiving their allotted shares. The company, formerly JONJUA AGRO PRIVATE LIMITED, will provide aero infrastructure for Jonjua Air Limited's Air Taxi Project, connecting Mohali, Punjab, to remote regions. Jonjua Overseas Limited is consulting for the startup operations.
Jonjua Overseas Ltd is an Indian company involved in various sectors, including service exports, corporate consultancy, agriculture, and the sale of printed books. The company offers services such as export services, printing of books, agriculture, and domestic service sales. The company has a market cap of Rs 14.3 crore. According to the financials, the company reported positive numbers in its half-yearly results (H1FY25) and annual results (FY24).
The stock’s 52-week high is Rs 13.50 and its 52-week low of Rs 8. The stock is up by 26 per cent from its 52-week low of Rs 8 per share with a PE of 9x whereas the industry PE is 40x.
Disclaimer: The article is for informational purposes only and not investment advice.