Hazoor Multi Projects Declares Q1 Results; 1st Interim Dividend of Rs 2 Approved

Hazoor Multi Projects Ltd, a small-cap stock with a market capitalization of Rs 721 crore, is listed exclusively on the BSE. The stock has seen remarkable growth, with its price rising by 17.24% over the past month, 180% in the last year, and an astonishing 27,000% over the past five years. Currently trading at Rs 385.50, the stock's 52-week high is Rs 454, while its 52-week low is Rs 115.

Hazoor Multi Projects has declared financial results for the quarter ended 30th June 2024. The company said its net profit stood at Rs 0.08 crore in the quarter ended June 2024 while net revenue from operations reached Rs 34.16 crore.

"The Board has approved the Forfeiture of 14,459 Partly paid up Equity Shares, on which the holders have failed to pay the balance call money amount vide call notices issued on dated May 30, 2023, August 17, 2023 and February 26, 2024 stating failure to pay will result in the shares being forfeited," said Hazoor Multi Projects in a stock exchange filing on 12th August, 2024.

The Board of Directors "Declared 1st Interim Dividend of Rs. 2/- per Fully Paid-up equity share having face value of 10/- each per Equity Share for the financial year 2024-25. The said interim dividend shall be paid to the Shareholders within the stipulated time," the company informed stock exchanges on Monday.

The Board of Hazoor Multi Projects also considered and approved the allotment of equity shares on conversion of 4,382,750 warrants into 4,32,750 equity shares of face value of Rs.10/- each at an issue price of Rs.300 each (including a premium of Rs.290/- per share), to "Non-Promoters/Public Category", on preferential basis, upon receipt of balance amount aggregating to Rs.9,73,68,750/- at the rate of Rs. 225/- per warrant, as per a regulatory filing.

The company recently announced a proposal to split its equity shares, marking the first time Hazoor Multi Projects shares will trade ex-split if the proposal is approved in July. This move was disclosed in an exchange filing, where the company stated that its Board of Directors would meet on Friday, July 26, 2024, to discuss the sub-division or split of its equity shares.

Founded in 1992, Hazoor Multi Projects Ltd has evolved from residential construction to a focus on infrastructure development. The company now primarily serves as a subcontractor on national highway projects, working with government agencies such as the Maharashtra State Road Development Corporation and the National Highways Authority of India. Additionally, Hazoor Multi Projects has expanded into the EPC (Engineering, Procurement, and Construction) contracting business, further diversifying its portfolio and strengthening its position in the infrastructure sector.