After 1:3 Bonus Issue, 1:10 Stock Split Small Cap Stock Rallies 12.20% Intraday

Small cap company listed in the S&P BSE small cap index, Hardwyn India Ltd shares soared 12.20% in trade today. Last trading price of Hardwyn India share on BSE is Rs 48.30 per share with intraday surge of 12.20%. The company has a market capitalisation of Rs 1,685.10 crore. Hardwyn India shares zoomed 1113.45% in last 2-years and gained 98% in last 1-year. Check details below:

Hardwyn India Stock Performance & Return: The 52-week high price of Hardwyn India share on BSE is Rs 57.00 per share and 52-week low price is Rs 17.25 per share, respectively. Hardwyn India shares gained 19.50% in last 1-week, soared 17.70% in last 2-weeks, rallied 16% in last 6-months, and offered return of 1266% in last 3-years. In last 5-years, Hardwyn India shares soared 16,386%.

Hardwyn India Incorporated Subsidiary: As per the BSE filing issued on September 29, 2023, "With reference to the captioned subject, Company in its board meeting held today proposes to incorporate Subsidiary in the name and style, 'SLIMX INTERIOR SOLUTIONS PRIVATE LIMITED' Registrar of Companies (Delhi), being subscribers and making an investment of Rs 20,00,000/- (2,00,000 Equity Shares of Rs 10/- each), of which Rs 17,00,000/-(1,70,000 Equity Shares of Rs. 10 each) shall be subscribed in the very name of the company."

Hardwyn India Stock Split, Bonus Issue 2023: The company earlier last year informed exchanges that its board approved stock split in the proportion of 1:10 and gave nod to bonus issue in the ratio of 1:3. For both bonus share and stock split, Hardwyn India set June 5, 2023 as the record date.

Hardwyn India Financials: On a standalone basis, the company reported net revenue of Rs 36.42 Cr in Q2FY24 up by 4.41% YoY from Rs 34.88 Cr in Q2FY23. The company said its net expenses stood at Rs 34.52 Cr during the quarter under review compared to Rs 33.26 crore recorded in the year-ago quarter. Hardwyn India declared its standalone net profit at Rs 1.34 crore during the September 2023 quarter, up 15.51% YoY from Rs 1.16 crore in the same quarter of the previous fiscal.

On a consolidated basis, the company reported a net revenue of Rs 32.01 Cr during the quarter under review compared to Rs 37.05 Cr in the 1st quarter of FY24. Its consolidated net profit reached Rs 1.48 Cr in Q2FY24 compared to Rs 1.11 Cr in Q1FY24.

About Hardwyn India: It is a leading manufacturer of architectural hardware and glass fittings, providing complete solutions for both residential as well as commercial structures since the past 5 decades. It has made its presence felt globally to create a Global Supply Chain and trusted distribution footprint. It came into existence in 2017.

Disclaimer:

The stock just highlights rally in shares 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.