6:11 Bonus Shares, 1:10 Stock Split: Apparel Co Net Zooms 1280%, Shares Jump 423% In 1-Yr

Small cap company operating in Garments & Apparels industry, Lorenzini Apparels Ltd shares hit 5% upper circuit on BSE after Board of Directors approved bonus shares in the ratio of 6:11 and stock split in the proportion of 1:10.

Lorenzini Apparels shares offered attractive return of 122% in last 6-months and gained 423% in last 1-year. The company has a market capitalisation of Rs 413.97 crore. Check details below:

Lorenzini Apparels Approves Stock Split: According to the BSE filing of the company dated Feb 12, "Sub-Division of Face Value of Equity Shares of the Company from Rs. 10/- (Rupees Ten Only) each to Re. 1/- (Rupee One) each, subject to the approval of shareholders to be obtained through Postal Ballot process. In this regard, the record date for such division/ split shall be intimated to the stock exchanges in due course."

Lorenzini Apparels Gives Nod To Bonus Shares: As per the regulatory filing of the company dated February 12, 2024, "Proposal of issuance of Bonus equity shares to the security holders of the Company in the ration of 6:11 i.e. 6 (Six) new fully paid-up equity share of Re. 1/- (Rupee one only) each for every 11 (Eleven) fully paid-up Equity Shares of Re. 1/- (Rupee one only) held by the Eligible securityholders of the Company as on the record date, subject to the approval of shareholders to be obtained through Postal Ballot process. In this regard, the record date for such bonus issue shall be intimated to the stock exchanges in due course."

Lorenzini Apparels Shares Performance & Return: Last trading price of Lorenzini Apparels shares on BSE is Rs 408.30 apiece with intraday gain of 4.99%. The 52-week high price of Lorenzini Apparels shares on BSE is Rs 475.20 apiece and 52-week low price is Rs 73.00 apiece, respectively. Lorenzini Apparels shares offered shareholders return of 53% in last 1-month, gained 71% YTD, jumped 3578% in last 2-years, and offered gain of 5336% in last 3-years. In last 5-years, Lorenzini Apparels stock zoomed 7323%.

Lorenzini Apparels Financials: The company for the quarter ended December 2023 announced its net sales at Rs 12.68 crore, up 4.26% as compared to Rs 12.16 crore in the corresponding quarter of last year. The company declared its net profit at Rs 2.37 crore for December 2023 quarter, up 1280.45% as compared to Rs 0.17 crore in December 2022. EBITDA of Lorenzini arrived at Rs 3.97 crore in December 2023, up 179.58% from Rs 1.42 crore announced in the similar quarter of last year. EPS also registered a rise to 2.24 in December 2023 from Rs 0.17 in December 2022.

Disclaimer: The stock highlights the bonus shares, stock split, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.