Multibagger Stock To Consider Stock Split, Scrip Up Over 8000% In 3 Years

IEL Ltd is a micro-cap company that deals in the FMCG sector. The company is engaged in the trading of chemicals and colorants. The company has informed stock exchanges that the meeting of the Board of Directors of the Company is scheduled to be held on Friday, 07th July 2023 to consider and approve stock split.

"Pursuant to the provisions of Regulation 29 and other applicable Regulations, if any, of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time, this is to inform you that the meeting of the Board of Directors of the Company is scheduled to be held on Friday, 07th July, 2023 to consider and approve, inter alia, the following matters: 1. Fixing the venue, date and time of 67th Annual General Meeting of the Company for the Financial Year 2022-23 and related matters. 2.

To consider and approve the proposal for Sub-Division/ Split of the existing Equity Shares of the Company having face value of INR 10/- each, fully paid up, in such manner as may be determined by the Board of Directors and subject to approval of the Shareholders and/or any other regulatory/statutory approvals (if any). 3. Any other matter with the permission of Chair," said IEL Ltd in a stock exchange filing.

The company recorded a net income of Rs 1.06 Cr during the March 2023 quarter compared to Rs 0.45 Cr during the March 2022 quarter. Its net expenses stood at Rs 1.11 Cr against Rs 0.05 Cr in the corresponding quarter of FY22. The company said its EBIT fell to Rs (-0.05) Cr during Q4FY23 compared to 0.39 Cr in Q4FY22. IEL Ltd reported a net loss of Rs -0.04 Cr during Q4FY23 compared to a net profit of Rs 0.39 Cr in the same quarter of FY22. The EPS of the company stood at Rs -0.13 compared to Rs 1.17 in the March 2022 quarter.

The shares of IEL Ltd opened today on the BSE at an upper circuit limit of Rs 180. The stock was seen trading at an upside gap of 3.03% from the previous close of 174.70. The stock price climbed from Rs 9.44 to the current market price during the past five years, resulting in a multibagger return of 1,712.69%. The stock price jumped from Rs 2.07 to the current market price during the past three years, resulting in a multibagger return of 8,339.61%. The stock price soared from Rs 63.70 to the current market price during the course of the past year, resulting in a multibagger return of 185.71%. The stock has rallied 79.09% YTD so far in 2023.

The stock made a 52-week-high of Rs 205.90 on (09/06/2023) and a 52-week-low of Rs 60.70 on (21/06/2022). During Q4FY23, IEL Ltd reported promoters shareholding of 44.97% and a public stake of 55.03%.