200% Gain In 1 Year: Multibagger Stock Revises Record Date For 1:1 Bonus Shares

A small-cap textile company operating in the consumer discretionary industry is Advance Lifestyles. The company's equity shares are traded on the BSE and are among the multibagger stocks seen in the past 12 months on the Indian stock market. In addition to being a multibagger stock, it has also been authorized bonus shares in a 1:1 ratio, with the company's board of directors postponing the record date from October 6 to October 13 2023.

"With reference to our intimation dated 03.10.2023 submitted to BSE Limited regarding intimation of record date, We have inadvertently intimated October 06, 2023 as a record date, whereas the correct record date fixed by the Company for the purpose of ascertaining the eligibility of shareholders for entitlement for issue of Bonus Shares in the ratio of 1:1 is October 13, 2023. We request you to note that October 13, 2023 shall be the record date for the purpose of ascertaining the eligibility of shareholders for entitlement for issue of Bonus Shares," said Advance Lifestyles in a stock exchange filing.

In comparison to the March 2023 quarter's net income of Rs 1.61 Cr, the firm recorded a net income of Rs 0.10 Cr during the June 2023 quarter. Its net expenses were Rs 0.07 Cr in the first quarter of FY24 as opposed to Rs 1.51 Cr in the fourth quarter of FY23. In comparison to Q4FY23's EBIT of Rs 0.10 Cr, it achieved Rs 0.03 Cr in Q1FY24. The company's EPS decreased to Rs 0.08 on a QoQ basis from Rs 0.32 in the last quarter of FY23, while its net profit plummeted to Rs 0.02 Cr in Q1FY24 from Rs 0.10 Cr in Q4FY23.

On Wednesday, the shares of Advance Lifestyles opened at a lower circuit limit of Rs 110 apiece down by 2% from the previous close of Rs 112.20. The stock made a 52-week-high of Rs 121.70 on (27/09/2023) and a 52-week-low of Rs 31.50 on (30/11/2022), implying that at the current market price, the stock price is trading 249.20% above the 1-year low and 9.61% below the 1 year high.

During Q1FY24, the company recorded promoters' shareholding of 75.00%, DIIs stake of 0.01% and public stake of 24.99%. The promoter stake of the company at the current level is much higher than its peers such as Gloster Ltd, Cheviot Company, AI Champdany Industries, Ludlow Jute & Specialities, and Rajvir Industries.