164% Gain 1 Year: Multibagger Stock Hits 2% Upper Circuit As Board Declares 1:5 Stock Split

Trishakti Industries is a small-cap NBFC with a market cap of Rs 35.28 Cr. The shares of the company closed 2% upper circuit limit of Rs 118.77 apiece amid the stock split buzz. Trishakti Industries has declared stock split in a 1:5 ratio and the record date for the purpose of the same will be announced in due course.

"Pursuant to Section 61(1)(d) and other applicable provisions, if any, of the Companies Act, 2013 (including any statutory modification(s) or re-enactment(s) thereof, for the time being in force) read with the applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, and subject to the provisions of the Memorandum and Articles of Association of the Company and such other approval(s), consent(s), permission(s) and sanction(s) as may be necessary from the appropriate statutory authority(ies), the approval of the Members of the Company be and is hereby accorded for sub-division of 1 (One) fully paid-up Equity Share of the Company having face value of Rs 10/- (Rupees Ten) each, into 5(Five)fully paid-up Equity Shares, having face value of Rs 2/- (Rupees Two) each, with effect from the 'Record Date' to be determined by the Board of Directors for this purpose.

The sub-divided Equity Shares having face value Rs 2/- (Rupees Two) each, shall rank pari passu in all respects and carry the same rights as to the existing fully paid-up Equity Shares of face value Rs 10/- (Rupees Ten) each of the Company," said Trishakti Industries in a stock exchange filing.

With an anticipated project value of around Rs. 600 crore, Trishakti Industries Limited and PT Tubular Services Indonesian recently proposed to establish a joint venture to establish a seamless pipe plant.

The company recorded a net income of Rs 35.75 Cr in the quarter ended 30th September 2023 compared to Rs 2.82 Cr in the year-ago quarter. Its net expenses reached Rs 35.51 Cr in the quarter under review as against Rs 2.21 Cr in the year-ago quarter.

The company said its EBIT stood at Rs 0.24 Cr in Q2FY24 compared to Rs 0.60 Cr in Q2FY23 whereas net profit reached Rs 0.21 Cr as against Rs 0.43 Cr in the same quarter of the previous fiscal.

The stock has generated a multibagger return of 163.93% and on a YTD basis, the stock has given a multibagger return of 136.36% so far in 2023. In the past six months, Trishakti Industries' shares have gone up by 125%, and in the past month, they have climbed by 70%. The scrip made a 52-week-high of Rs 118.77 on (24/11/2023) and a 52-week-low of Rs 30.07 on (17/07/2023).