Multibagger Stock Sets Record Date For 1:1 Stock Split, Up 200% YTD

Shilchar Technologies Ltd is a small industrial company that recorded a market cap of Rs 1,107.93 Cr during Friday's closing session. Shilchar Technologies Ltd. is one of India's leading manufacturers of electronics & telecom and power & distribution transformers. The company has declared stock split in 1:1 ratio and for the purpose of the same record date has been finalized.

"Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we would like to inform you that Wednesday, 6th September, 2023 is fixed as the Record Date, for the purpose of ascertaining the eligibility of shareholders for issuance of Bonus Equity Shares of the Company in the proportion of 1 (One) new fully paid up equity shares of Rs. 10/- each for every 1 (one) fully paid up existing equity share of Rs. 10/- each held, subject to the In Principal approval of the BSE Limited," said Shilchar Technologies in a stock exchange filing.

Shilchar Technologies Limited reported that the company's Annual General Meeting (AGM) on August 25, 2023, authorised the change of the company's Registered Office from Bil Road, Bil, District Vadodara, Gujarat, India ­391410 to Block No. 460, Near Muval Sub-Station, Padra ­ Jambusar Highway, Gavasad, District Vadodara, Gujarat, India ­391430, as per a stock exchange filing.

On a standalone basis, the company reported net sales of Rs 67.22 crore in the June 2023 quarter up 17.41% YoY from Rs. 57.25 crore in the June 2022 quarter. Its net profit stood at Rs. 16.38 crore in Q1FY24 up 181.76% from Rs. 5.81 crore in Q1FY23 while EBITDA stands at Rs. 22.48 crore up 160.49% from Rs. 8.63 crore reported in the same quarter of FY23. Shilchar Techno's earnings per share (EPS) rose from Rs. 15.25 in the June 2022 quarter to Rs. 42.96 in the June 2023 quarter.

On Friday, the shares of Shilchar Technologies closed on the BSE at Rs 2905.35 apiece down by 0.39% compared to the previous close of Rs 2916.80. The stock made a 52-week-high of Rs 3,199.95 on (23/08/2023) and a 52-week-low of Rs 552.10 on (01/09/2022), indicating that at the current market price, the stock is trading 9.20% below the recent 1 year high and 426.23% above the 1 year low.

The stock price climbed from Rs 369.80 to the current market price during the past five years, resulting in a multibagger return of 685.65%. The stock price soared from Rs 159.60 to the current market price over the past three years, resulting in a multibagger return of 1,811.41%. The stock price jumped from Rs. 583 to the current market price over the past year, resulting in a multibagger return of 398.34%. The stock has produced multibagger returns of 196.68% YTD and 125.67% during the previous six months. During Q1FY24, the company recorded promoters shareholding of 65.85%, FIIs stake of 0.59%, Govt stake of 0.52% and public stake of 33.05%.