Multibagger Stock Declares 1:2 Stock Split After Gaining 191% From 52W-Low

IIRM Holdings India (formerly known as Sudev Industries Limited) is a small-cap company in the commercial services sector. The company specialises in producing and distributing the whole line of roto moulded products. IIRM Holdings India is one the multibagger stocks of Dalal Street as the scrip has gained 178% YTD but what is more interesting news regarding the stock is the Board of Directors has declared a stock split in a 1:2 ratio and for the purpose of the same record date has been finalized.

"Pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Company has fixed Monday, December 11, 2023 as the Record Date for the purpose of ascertaining the eligibility of the shareholders entitled for the purpose of subdivision/split of each Equity Share of the Company having Face Value of Rupees 10/- into two equity Shares of Face Value of Rupees 5/- each," said IIRM Holdings India in a stock exchange filing.

To determine the eligibility of the shareholders eligible to the sub-division/split of each equity share of the company, with a face value of Rupees 10/-each, into two equity shares with a face value of Rupees 5/-each, the record date has been declared by the company.

The company reported a net income of Rs 0.31 Cr in the quarter ended 30th September 2023 compared to Rs 0.36 Cr in the same quarter of 2022. Its net expenses stood at Rs 0.25 Cr as against Rs 0.02 Cr in the year-ago quarter, The company said its EBIT reached Rs 0.06 Cr in Q2FY24 compared to Rs 0.34 Cr in Q2FY23 and its net profit stood at Rs 0.07 Cr in the quarter under review compared to Rs 0.31 Cr in the year-ago quarter.

On the BSE, the last traded price of Sudev Industries was Rs 43.59. The scrip reached a 52-week-high of Rs 43.59 (20/11/2023) and a 52-week-low of Rs 14.97 (11/04/2023), implying that at the current market price, the stock has gained 191.18% from its 1 year low.