Multibagger Stock Gains 373% From 52-Week-Low Fixes Record Date For 1:5 Stock Split

AKI India Ltd is a small cap Consumer Discretionary company that recorded a market cap of Rs 151.06 Cr during Monday's closing session. Its main line of business is the designing and manufacturing of leather products for equestrian activities, including Horse Covers, Leather Footwear, Leather Bags, Belts and Finished Leather. For the purpose of 1:5 stock split, the company has fixed record date in order to determine the eligibility of the shareholders.

"Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, the Company has fixed Thursday, 22nd June, 2023 as the Record Date, for the purpose of ascertaining the eligibility of shareholders entitled for Sub-division / Split of 1 (One) Equity share of the Company having face value of Rs. 10/- (Rupees Ten Only) each into 5 (Five) Equity shares having face value of Rs. 2/- (Rupees Two Only) each," said AKI India in a stock exchange filing.

During the quarter ended March 2023 the company recorded a net income of Rs 15.03 Cr compared to Rs 20.37 Cr recorded in the March 2022 quarter. Its net expenses reached Rs 14.15 Cr as against Rs 14.88 Cr during the same quarter of 2022. AKI India said its net profit stood at Rs 0.23 Cr during Q4FY23 compared to Rs 3.38 Cr during Q4FY22. Its EBIT reached Rs 0.87 Cr during Q4FY23 compared to Rs 5.48 Cr in the corresponding quarter of FY22.

On Monday, the shares of AKI India closed on the BSE at Rs 112.85 apiece up by 1.67% from the previous close of Rs 111.00. The stock price climbed from Rs 8.48 to the current market price during the past five years, resulting in a multibagger return of 1,227.65%. The stock price soared from Rs 8.52 to the current market price over the past three years, resulting in a multibagger return of 1,224.05%. The stock price jumped from Rs 40.69 to the current market price in the past year, resulting in a multibagger return of 177.33%. The stock has gained 9.14% YTD so far in 2023.

The stock touched a 52-week-high of Rs 122.20 on (19/04/2023) and a 52-week-low of Rs 23.84 on (12/07/2022), indicating that at the current market price the stock is trading 373.36% above the 1 year low and 7.65% below the 1 year high. During Q4FY23, the company recorded promoters shareholding of 73.00% and a public stake of 27.00%. The promoters' stake in AKI India at the current market level is much higher than its peers such as Relaxo Footwear, Bata India, Mirza International, Khadim India, and Liberty Shoes.