Smallcap textile company, Filatex Fashion which is trading below Rs 11 is planning a stock sub-division. So far 2024 has been bearish for the stock as it has dropped by 23% YTD. In the long term, the stock has rallied by 451% in 5 years, becoming a multi-bagger.
Filatex Fashions Share Price:
On BSE, the stock price stood at Rs 10.80 apiece, with gains of 1.6% on June 13 with a market cap of Rs 1,800.16 crore. The stock's 52-week high and low are at Rs 21.50 apiece and Rs 8.52 apiece respectively.
YTD, the stock is down by 22.8%, while in a year, the stock dipped by 15%.
Filatex Fashions Stock Split:
In a board meeting scheduled on June 7, Filatex Fashions announced a stock sub-division in the ratio of 1:5. This means that existing 1 (one) Equity Share of the face value of Rs. 5/-each fully paid up into 5 (Five) Equity Shares of Re. 1/- each fully paid up.
Filatex said that the Record Date for subdivision of equity shares will be intimated to the Exchanges subsequently, after the approval of the resolution for sub-division by the shareholders at EGM.
The reason behind the stock split is to enhance the liquidity in the capital market and to widen the shareholder base.
The company plans to complete the stock split within 3 months from the date of shareholders' approval.
Filatex Fashions Stock Fundamentals:
As per Trendlyne data, the following are the fundamentals for the stock analysis of Filatex Fashions:
- Annual Revenue rose 3.59%, in the last year to ₹173.78 Cr. Its sector's average revenue growth for the last fiscal year was -6.71%.
- Annual Net Profit fell 25.95% in the last year to ₹8.82 Cr. Its sector's average net profit growth for the last fiscal year was 8.86%.
- Stock Price fell 12.97% and underperformed its sector by 65.62% in the past year.
- Debt to Equity Ratio of 0.02 is less than 1 and healthy. This implies that its assets are financed mainly through equity.
- Promoter Share Holding increased by 0.01% in the most recent quarter to 24.82%.
- Promoter Pledges are zero.
- Interest Coverage Ratio is 8.85, higher than 1.5. This means that it can meet its interest payments comfortably with its earnings (EBIT).
- Return on Equity(ROE) for the last financial year was 0.38%, less than 10%, indicating an inefficient use of shareholder's capital to generate profit.
- Price to Earning Ratio is 206.22, higher than its sector PE ratio of 63.99.
- Quarterly Net profit fell 33.83% YoY to ₹2.44 Cr. Its sector's average net profit growth YoY for the quarter was 8.79%.
- Quarterly Revenue rose 51.28% YoY to ₹64.35 Cr. Its sector's average revenue growth YoY for the quarter was -8.91%.
About Filatex Fashions:
Filatex Fashions Limited is one of India's oldest players in knitwear & apparel manufacturing. The company manufactures products ranging from socks, tights, wrist bands, headbands, compression sleeves, knee braces, infant caps, and infant mittens using state-of-the-art Italian, Korean and Chinese technologies.
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