GM Polyplast is one of the leading manufacturers of plastic products. On Tuesday, the company’s stock closed at a new 52-week high on the exchanges. The small-cap stock is a multi-bagger as it has given over 300% returns in just 1 year—a little overdue journey now above 180 780. The wealth of investors in this stock is said to have more than quadrupled in a year. But GM Polyplast is in for a treat for the investors as the company has announced a bonus issue in the ratio of 6:1.
Feather BSEGM Polyplast shares freeze at new 52-week high 787.85 each with a gain of 5%. This is also its 5% upper circuit limit.
GM Polyplast Shares Surpassed 700 mark on 11 November and registered broad gains. The stock has been hitting back-to-back 5% circuit since October 31, 2022. It is being said that GM Polyplast shares are on winning streak for 17 consecutive days.
GM Polyplast has rallied almost 47% on Dalal Street in just 15 days since November.
So far in 2022, the stock has gained an astonishing 368.95%. stock was around 168 on January 3, 2022, Rs. Investors who bought their shares in this stock during the beginning of current year— their wealth will increase by almost 5 times.
Overall, GM Polyplast shares have gained 320-350% in one year. The level of 175-184 in November a year ago.
GM Polyplast Bonus issue:
As per the regulatory filing, the company will issue 6 equity shares, the face value of which will be 10 each for every existing 1 Equity Share —– taking the ratio to 6:1. The Bonus Equity Shares once allotted shall be of the same class in all respects and shall have the same rights as the existing Equity Shares and shall be entitled to participate fully in any dividend and other corporate action recommended and declared after the new Equity Shares have been allotted. Will be entitled
Under the bonus issue, the company will issue 1,15,36,800 equity shares, the face value of which will be 10 each in total 11.53 crores.
GM Polyplast Q2 Earnings:
In Q2FY23, the company posted a standalone net profit of Rs. 2.53 lakh crore against profit 1.76 crore in the same period a year ago. However, sequentially, Q2 PAT dipped from 2.76 cr in Q1FY23.
Standalone net income from operations 43.45 cr in Q2FY23 as compared to Rs. 29.98 crore in Q2FY22. Posted total income of the company 43.88 crore in the June 2022 quarter.
Earnings per share of the company increased Vs 13.18 in Q2FY23 9.17 in the second quarter of the last financial year.
Established in 2003, GM Polyplast is one of the leading manufacturers of HIPS, ABS, PET, PP, HDPE Sheets and Granules with premium quality. GM Polyplast has a centrally located manufacturing plant in Silvassa and office in Mumbai.
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