1845% Gain In 3 Years: Multibagger Stock Announces 1:2 Bonus Shares

During Friday's closing session, MK Exim (India) Ltd, a small-cap consumer discretionary firm, had a market cap of Rs 343.66 Cr. Founded in 1992, M.K. Exim (India) Limited is a public limited company that operates in the textile industry. The firm has the capacity to produce fabric, jewellery, and ready-made garments. It has also been certified as a supplier for relief programmes, and it recently joined the FMCG cosmetics division. In India, it has obtained distributorships for John Paul Mitchell Systems, Moroccan Oil, and BCL Spa.

The Board of Directors of the company in their meeting held today i.e., December 02, 2023 considered and approved the "Recommendation of issue of Bonus Equity Shares in the proportion of 1 (One) Equity Share of Rs. 10/- each for every 2 (Two) Equity Share of Rs. 10/- each held by the shareholders of the Company as on the record date, subject to the approval of members and other approvals, consents, permissions, conditions and sanctions, as may be necessary," said MK Exim (India) in a stock exchange filing. The bonus shares will be issued out of free/general reserves created out of profits of the company available as of March 31, 2023.

"The Bonus Shares once allotted shall rank pari-passu in all respects and carry the same rights of the existing Equity Shares and shall be entitled to participate in full in any dividend and other corporate action(s), recommended and declared after the issue and allotment of such Bonus Shares," the company informed to stock exchanges.

MK Exim (India) said reserves amounting to Rs. 13,45,57,500/- are required for implementing the bonus issue and as on March 31, 2023, the available balance of general reserves of Rs. 15,05,90,000/- and security premium reserve of Rs. 7,13,82,300/-.

The company reported a net sales of Rs 26.54 crore in the September 2023 quarter up 3.09% from Rs. 25.75 crore in the September 2022 quarter. Its net profit stood at Rs. 4.14 crore in Q2FY24 down 0.53% from Rs. 4.17 crore in Q2FY23. EBITDA reached Rs. 5.77 crore in the second quarter of the current fiscal up 1.05% from Rs. 5.71 crore in the same quarter of the previous fiscal.

On Friday, the shares of MK Exim (India) Ltd closed on the BSE at Rs 127.70 apiece. The scrip made a 52-week-high of Rs 134.70 on (30/11/2023) and a 52-week-low of Rs 72.50 on (23/05/2023). The stock has produced a multibagger return of 3,164% over the past five years and 1,845% during the past three years. The stock climbed 38% over the past year and 49% year-to-date in 2023.