The shares of Banswara Syntex Limited opened at Rs 235 on Wednesday. In the past five days, the stock has shed 1.2 per cent. So far this year, the stock has been volatile and gained approximately 1.3 per cent.
In September 2020, the stock was trading at Rs 69.90 a piece on NSE. From there it has climbed up to the current levels thereby delivering a multibagger return of 235 per cent in two years.
If an investor would have invested Rs 1 lakh in the company their investment would be worth Rs 3.35 lakhs in just two years.
The board has approved splitting the shares of the company. An equity share having a face value of Rs 10 each will be subdivided into two equity shares having a face value of Rs 5 each. For the purpose of sub-division / split, the record date has been set as September 9th, 2022.
Banswara Syntex Limited, a small cap textile company, has one of Asia’s largest single-mill setups for fiber-dyed yarn. The company offers a variety of textiles and technical fabrics, and it has a wide market presence in more than 50 nations.
In Q1FY23, the company reported total revenue of Rs 355 crores up 67 percent from Rs 212 crores which it earned in the same quarter a year prior. In the previous quarter, their revenue stood at Rs 367 crores.
In the quarter under review, their net profit stood at Rs 19 crores which is an increase of 534 percent from Rs 3 crores which they earned in Q1FY22. On a sequential basis, their profit was similar to the current quarter at Rs 19 crores.
The company has a market capitalization of Rs 402 crores and the promoters hold a 58.73 percent stake with zero shares pledged. The company also pays dividends and has a dividend yield of 1.07 percent.
Written by- Anoushka Roy
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