After rallying over 2600% in 3 years, Board of this multibagger stock to mull stock split soon

Hardwyn India is a small cap company having a market worth of 388 Cr and the company operates in the commercial services industry. Hardwyn is a major name among the architectural hardware makers in India. The firm is one of the leading producers of architectural hardware and glass fittings, providing comprehensive solutions for both residential as well as commercial projects throughout the past 5 decades.

“In terms of Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, April 26, 2023, inter-alia to discuss and approve the following businesses: 1. To consider Split of Equity shares of the Company and consequent amendment to the Capital Clause of the Memorandum of Association of the Company, subject to approval of the shareholders and other necessary approvals, to give effect the said changes,” said the Board of Hardwyn India in a stock exchange filing today.

During the quarter ended December 2022, the company recorded a net income of 34.73 Cr and its net expenses stood at 30.00 Cr. The company’s EBIT reached 4.73 Cr whereas the company said its net profit reached 3.27 Cr during Q3FY23. The company’s EPS stood at 2.13 during Q3FY23 compared to 3.06 during Q2FY23.

The shares of Hardwyn India closed today on the BSE at 254.75 apiece level, down by 2.67% from the previous close of 261.75. The stock recorded a total volume of 3,035 shares and a deliverable volume of 2,267 shares or 74.70%. The stock has produced a multibagger return of 3,680% over the past five years, and a multibagger return of 2,679.41% during the past three years. The stock has seen a multibagger return of 215% during the past year, but YTD, it has plummeted 25.22% in 2023. The stock touched a 52-week-high of 355.15 on (18/11/2022) and a 52-week-low of 80.04 on (12/04/2022). During Q4FY23, the company recorded a promoter shareholding of 43.77% and a public stake of 56.23%.

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