Mid Cap Metal Stock To Declare Stock Split On Nov 3, Rises 124% In 1-Yr

Board of directors of Godawari Power & Ispat Ltd are expected to hold a meeting on November 3, 2023 to consider and approve approve the un-audited Standalone and Consolidated Financial Results of the Company for the quarter and half year ended 30th September 2023 and sub-division/stock split of equity shares of face value Rs 5/- each. Godawari Power shares offered return of 124% in last 1-year. Last trading price of Godawari Power share on BSE is quoted at Rs 592.40 apiece. Check details below:

Godawari Power To Consider Quarterly Result, Stock Split On November 3: According to the BSE filing of the company dated October 23, 2023, "Meeting of the Board of Directors is scheduled to be held on Friday, 03rd November, 2023 ('Meeting'), to consider and approve the un-audited Standalone and Consolidated Financial Results of the Company for the quarter and half year ended 30th September 2023. This is to inform you that at the said Meeting, the Board of Directors will also consider the following proposals:

(a) To consider and approve the proposal for sub-division of the equity shares of face value of Rs. 5/- each of the Company in such manner as may be determined by the Board of Directors.

(b) To consider and approve the Company's - Employees Stock Option Plan -2023'. Both the above Proposals shall be subject to the approval of the members of the Company."

Godawari Power Stock Outlook & Return: Current market price of Godawari Power share on BSE is Rs 591.45 per share. Its 52-week high price is Rs 675.00 per share and 52-week low price is Rs 255.00 per share, respectively. Its market capitalisation is Rs 8088.73 crore. Godawari Power shares fell nearly 9% in last 1-week, surged 60% in last 6-months, offered return of 49% YTD, rose 124% in last 1-year, and gained 528% in last 3-years.

Godawari Power Financials: The company for Q1 FY24 announced a drop of 30% in its net profit at Rs 230.2 crore from 327.1 crore in last fiscal. Its revenue also declined 20% to 1325.6 crore from Rs 1666.3 crore in corresponding quarter of last year. Its Ebitda fell 35% to Rs 305.1 crore for the June quarter as against Rs 467.9 crore declared an year ago.

About: Godawari Power & Ispat Ltd. (GPIL) a public Ltd. Co., formally Ispat Godawari Ltd (IGL), was incorporated in 1999 to set up an integrated steel plant with captive power generation, which is an integrated steel manufacturer and is having dominant presence in the long product segment of the Steel industry, mainly into mild steel wire. Today, GPIL is an end-to-end manufacturer of mild steel wires. In the process, the company manufactures sponge iron, billets, Ferro alloys, captive power, wires rods (through subsidiary company), steel wires, Oxygen gas, fly ash brick and last but not the least pallets.

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