1st Ever 2:1 Bonus Shares: Finance Stock Hits 52W-High On Declaring Record Date

Paul Merchants is one of the multibagger stocks of Dalal Street which is in the focus of market observers for not only 157% YTD return but also for first ever bonus share announcement in 2:1 ratio. On Wednesday, the shares of Paul Merchants opened on the BSE at Rs 3333.90 apiece and reached a fresh 52-week-high of Rs 3,334.55 during the early trade.

Paul Merchants Bonus Share Record Date

"In continuation of our letter no. PML/BSE/CS/2023/187 dated December 1, 2023 and as instructed by the Exchange, please be informed that the Record Date for the purpose of ascertaining the eligibility of equity shareholders entitled for allotment of Bonus Shares of the Company in the ratio of 2:1, i.e. 2 (Two) equity shares of Rs. 10/- each for every 1 (one) existing equity share of Rs. 10/- is hereby revised from Monday, December 18, 2023 to Tuesday, December 19, 2023 in compliance with the provisions of Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read over with applicable provisions of the Companies Act, 2013," said the company in a stock exchange filing.

Paul Merchants Financials

The company's net sales for the September 2023 quarter were Rs. 1,839.25 crore, up 4.42% YoY from Rs. 1,761.42 crore during the corresponding period in 2022. From Rs. 11.97 crore in Q2FY23 to Rs. 14.53 crore in Q2FY24, its net profit climbed by 21.36% YoY. From Rs. 20.81 crore during the same time in FY23 to Rs. 31.20 crore in the second quarter of FY24, EBITDA jumped by 49.93% YoY.

Paul Merchants Share Price History

The stock price went up from Rs 1,428.85 to the current market price during the previous three years, yielding a multibagger return of 160.51%. The stock price jumped from Rs 1,341.85 to the current market price in the past year, delivering a multibagger return of 148.50%.

The stock price has risen from Rs 1,299.50 to the current market price on a year-to-date basis, resulting in a multibagger return of 156.60% so far in 2023. The stock has produced a multibagger return of 153.98% over the past six months, and it has gained 48.57% during the past month.