Multibagger stock sets record date for 1:2 bonus shares, rallies 200% in 3 years

The company has said today in a stock exchange filing that “Pursuant to Regulation 42 of Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that Thursday, 22nd December, 2022 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. 1/- each for every 2 (Two) fully paid up existing equity share of Rs. 1/- each held, subject to the approval of Members which is being obtained by way of Postal Ballot through remote e-voting. The result of Postal Ballot will be declared on Wednesday, 14th December, 2022.”

In Q2FY23, the company reported net sales of ₹721.31 Cr compared to ₹706.64 Cr in Q2FY22, representing a YoY gain of 2.07%. The company reported a total expense of ₹706.38 Cr in the quarter that ended September 2022 compared to ₹688.11 Cr in the year-ago quarter. In Q2FY23, the firm posted a profit before tax (PBT) of ₹19.60 Cr, down from ₹20.73 Cr in Q2FY22 by 5.45% YoY. In Q2FY23, the firm reported a net profit of ₹14.66 crore, down from ₹14.97 crore in Q2FY22 and a YoY decline of 2.07%. In Q2FY23, the EPS was ₹1.27 per share, down from ₹1.29 in Q2FY22.

The pre-bonus share capital is 11,56,36,230 and the post-bonus share capital will be 17,34,54,345. 5,78,18,115 equity shares are proposed to be issued in total as bonus securities. The anticipated date that these bonus shares would be credited or distributed is within two months of the day that the Board Meeting approved them, or by the 9th of January 2023. Precision Wires India Ltd. shares ended trading today at Rs. 103 per share, up Rs. 1.98% from the previous close of Rs. 101 apiece. In trade today the stock recorded a total volume of 258,596 shares compared to the 20-Day average volume of 410,413 shares. The stock has produced a multibagger return of 133.08% over the past five years, while the scrip has delivered a multibagger return of 235.61% during the past three years. The stock has appreciated 73.40% over the past year, and it has climbed 43.75% YTD in 2022.