Corporate Action: Multibagger Stock To Announce Bonus Shares On 14th July

Lancor Holdings Ltd is a small cap realty company that recorded a market cap of Rs 194.00 Cr during Friday's closing session. For more than 37 years, Lancor Holdings Limited, a public limited company registered on the Bombay Stock Exchange, has been involved in the construction of commercial and residential developments in Chennai. The Board of Directors of the company will meet on Friday, July 14, 2023, to discuss bonus shares, the company has stated.

"Pursuant to Regulation 29(1) & 29(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that a meeting of the Board of Directors of the Company is scheduled to be held on Friday, July 14, 2023 and the Board of Directors of the Company may consider issue of Bonus Shares in the aforesaid Board Meeting, subject to the approval of shareholders of the Company. This is further to our letter dated June 30, 2023 intimation, the Trading Window for trading in the Company's equity shares has been closed from July 01, 2023, till the expiry of forty-eight (48) hours after the announcement/ declaration of the Financial Results of the Company for the quarter ended June 30, 2023," said Lancor Holdings in a stock exchange filing.

During the quarter ended March 2023 it consolidated net income was Rs 27.11 Cr compared to Rs 26.60 Cr in March 2022 quarter. Its net expenses reached Rs 22.85 Cr compared to Rs 24.75 Cr recorded in the same quarter of FY22. Lancor Holdings said its EBIT was Rs 4.26 Cr in Q4FY23 compared to Rs 1.85 Cr in Q4FY22 and the company said it reported a consolidated net loss of Rs -0.40 Cr as against a net loss of Rs -3.00 Cr in the same quarter of FY22.

On Friday, Lancor Holdings closed on the BSE at Rs 47.90 apiece down by 1.70% from the previous close of Rs 48.73. The stock made a 52-week-high of Rs 50.00 on (07/07/2023) and a 52-week-low of Rs 23.70 on (26/09/2022), indicating that at the current market price, the stock is trading 4.20% below the 1 year high and 102.10% above the 1 year low. The stock price climbed from Rs 23.50 to the current market price during the past five years, resulting in a multibagger return of 103.83%. The stock price jumped from Rs 3.19 to the current market price over the past three years, resulting in a multibagger return of 1,355.93%. The stock price soared from Rs 26.35 to the current market price in the last year, resulting in a return of 81.78%. On a year-to-date basis, it has risen by 67.19% so far in 2023.

During Q4FY23, the company reported promoter shareholding of 62.08%, FIIs stake of 0.25% and public stake of 37.68%. The scrip has a PE ratio of -571.7 and ROE of -0.3%.