Mukul Agrawal Stock Likely To Declare Stock Split, Dividend: Do You Own?

With a market cap of Rs 2,892.14 Cr., Pearl Global Industries is a small-cap company in the consumer discretionary sector. The stock has risen 205% in the previous six months and 879.08% over the past five years, making it one of Dalal Street's multibagger stocks both in the short and long term. Despite being a multibagger stock, the company is expected to announce a stock split and bonus shares, which will be exciting news for market observers.

Pearl Global Industries said in a stock exchange filing that, "the Board of Directors of the company is scheduled to be held on Wednesday, November 08, 2023, inter-alia to consider, approve and take on record the following:

1. Unaudited Financial Results (Standalone & Consolidated) for the quarter and half year ended September 30, 2023.

2. Second interim dividend for the financial year 2023-24.

3. Proposal for sub-division/split of Equity Shares of face value of Rs. 10/- each of the Company in such manner as the Board may determine.

4. Exploring possibilities for raising funds by issue of securities, convertible/non-convertible, with or without warrant by way of public and/or private offerings and/or qualified institutions placement or any combination thereof, subject to the requisite approval of the Members of the company and such other approvals as may be required."

On a consolidated basis, the company recorded a net income of Rs 901.64 Cr during the June 2023 quarter compared to Rs 857.31 Cr in the June 2022 quarter. Its net expenses stood at Rs 824.28 Cr during Q1FY24 as against Rs 798.24 Cr in Q1FY23. Pearl Global Industries said its consolidated EBIT was Rs 77.36 Cr in the June 2023 quarter compared to Rs 59.07 Cr in the June 2022 quarter whereas its net profit stood at Rs 48.06 Cr on a consolidated basis in Q1FY24 as against Rs 36.47 Cr in Q1FY23.

On Monday, the shares of Pearl Global Industries closed on the BSE at Rs 1335 apiece. The scrip hit a 52-week-high of Rs 1,470.00 on (17/10/2023) and a 52-week-low of Rs 334.35 on (03/02/2023). During Q2FY24, the company reported promoters' shareholding of 66.58%, FIIs stake of 5.30%, DIIs stake of 0.50%, and public stake of 27.61%. During the July to September 2023 quarter, ace investor Mukul Mahavir Agrawal held 7,50,000 shares of the company in his portfolio or 3.46% stake in Pearl Global Industries.