Back To Back Upper Circuit: Multibagger Stock Sets Record Date For 1:1 Bonus Share & 1:2 Stock Split

Maan Aluminium is a small cap company that deals in the metal sector. One of India's industry pioneers in aluminium extrusion is the company. One of the most prominent manufacturers and exporters of aluminium extruded products from central India, the firm conducts both production and trade activities. It has been in the business for over 32 years. Since June 2, the stock has consistently grasped its upper circuit and has been moving in that direction. The multibagger stock touched an upper circuit level of Rs 337.70 during the early trades of the Monday trading session, rising by 5% after making a fresh 52-week-high. This buying demand in the stock witnessed after Maan Aluminium fixed record date for 1:1 bonus share & 1:2 stock split.

"Regulations, 2015, we would like to inform you that the Company has fixed Thursday, 27th July, 2023 as the Record Date, for the purpose of ascertaining the eligibility of the shareholders entitled for the following matters, subject to the approval of shareholders in upcoming AGM to be held on Wednesday, 19th July, 2023 : 1. Sub-division of 1 (one) Equity share of face value of Rs. 10/- each fully paid-up to 2 (two) Equity shares of face value of Rs. 5/- each fully paid-up. 2. Issue of 1 (One) Bonus Shares for every 1 (one) Equity Shares held by the Equity Shareholders of the Company." said Maan Aluminium in a stock exchange filing.

On a standalone basis, the company recorded a net income of Rs 264.37 Cr during the quarter ended March 2023 compared to Rs 130.89 Cr during March 2022 quarter. The company recorded net expenses of Rs 243.39 Cr during Q4FY23 compared to Rs 118.69 Cr in Q4FY22. The net profit of Maan Aluminium stood at Rs 14.46 Cr during Q4FY23 against Rs 8.17 Cr in Q4FY22. The EBIT of the company reached Rs 20.98 Cr compared Rs 12.20 Cr recorded in the same quarter of FY22.

The stock price climbed from Rs 55.30 to the current market price during the past five years, resulting in a multibagger return of 508.47%. The stock price soared from Rs 25.28 to the current market price over the past three years, resulting in a multibagger return of 1,359%. The stock price jumped from Rs 111.85 to the current market price over the past year, resulting in a multibagger return of 197%. The stock price went up from Rs 169.30 to the current market price on a year-to-date basis, resulting in a multibagger return of 100% so far in 2023. During Q4FY23, the company posted promoters shareholding of 66.04% and public stake of 33.96%.