With 30% CAGR over 5 years, this small-cap stock sets record date for split
Premium- A small-cap company with a market valuation of ₹237 crore that operates in the consumer durables industry is High Energy Batteries (India) Ltd.
A small-cap company with a market valuation of ₹237 crore that operates in the consumer durables industry is High Energy Batteries (India) Ltd. The company manufactures industrial batteries for backup power and auto VRLA purposes in addition to batteries for the military, air force, navy, and satellite launch vehicles. On 29th June, the company announced a stock split and fixed record date for the same.
The company has said in BSE exchange filing that “Pursuant to Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors of the Company, in their meeting held on 29" June 2022 have fixed the Record Date, for the Purpose of Sub-division of existing Equity Share of face value of Rs. 10/- (Ten) each fully paid up into five Equity Shares of face value of Rs. 2/- (Two) each fully paid up, as Wednesday, the 10" August, 2022. The Board passed the resolution fixing the Record Date, subsequent to the approval of the members at the 61 Annual General Meeting of the Company held on 29" June 2022."
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The stock on the NSE closed at ₹1,325, up 1.45% from its previous closing of ₹1306. The stock has fallen 11.54 per cent over the past year, and on a year-to-date (YTD) basis, it has declined 35.70 per cent so far in 2022. The stock has fallen 35.70 per cent over the past six months, and 3.17 per cent during the past month. The stock climbed from a price of ₹337.05 to its current price of ₹1,325 over the course of the previous five years, representing a multibagger return of 293.12 per cent or a CAGR of 31.50 per cent. Considering today's closing price as a comparison, the stock is trading above the 5 and 20-day moving averages but below the 50, 100, and 200-day moving averages. The company posted its highest-ever EPS of ₹100.12 Cr for the quarter ending March 2022, and promoter shareholding for that quarter was consistent since 2019 at 40.97 per cent.