PremiumG M Polyplast is one of the leading manufacturers of plastic products. On Tuesday, the company's stock locked on a fresh 52-week high on exchanges. The small-cap stock is multi-bagger as it has given more than 300% return in just 1 year --- making a journey from a little over ₹180 to now above ₹780. That being said, investors' wealth in this stock has more than quadrupled in a year. But GM Polyplast investors are in for a treat as the company has announced a bonus issue in the ratio of 6:1.
On BSE, G M Polyplast shares froze at a new 52-week high of ₹787.85 apiece to end higher by 5%. This is also its 5% upper circuit limit.
G M Polyplast shares crossed ₹700 mark on November 11 and recorded extensive gains. The stock has been hitting back-to-back 5% circuits since October 31, 2022. That being said, G M Polyplast shares have continued to be on a winning streak for 17 consecutive days.
In just 15 days of November, G M Polyplast has skyrocketed by nearly 47% on Dalal Street.
So far in 2022, the stock has risen breathtakingly by 368.95%. The stock was around ₹168 apiece on January 3, 2022. Investors who bought their shares in this stock during the start of the current year --- will see their wealth multiply by nearly 5-fold.
Overall, in a year, GM Polyplast shares have climbed by 320-350% The shares were around ₹175-184 levels in November a year ago.
GM Polyplast bonus issue:
As per the regulatory filing, the company will issue 6 equity shares having a face value of ₹10 each for every existing 1 equity share ----- taking the ratio to 6:1. The bonus equity shares once allotted shall rank pari passu in all respects and carry the same rights as the existing equity shares and shall be entitled to participate in full in any dividend and other corporate action, recommended and declared after the new equity shares are allotted.
Under the bonus issue, the company will issue 1,15,36,800 equity shares having a face value of ₹10 each aggregating to over ₹11.53 crore.
G M Polyplast Q2 earnings:
In Q2FY23, the company posted a standalone net profit of ₹2.53 lakh crore compared to a profit of ₹1.76 crore in the same period a year ago. However, sequentially, the Q2 PAT dipped from ₹2.76 crore in Q1FY23.
Standalone total income from operations came in at ₹43.45 crore in Q2FY23 compared to ₹29.98 crore in Q2FY22. The company posted a total income of ₹43.88 crore in June 2022 quarter.
The company's earnings per share rose to ₹13.18 in Q2FY23 versus ₹9.17 in Q2 of the previous fiscal.
Founded in 2003, GM Polyplast is one of the leading manufacturers of HIPS, ABS, PET, PP, HDPE Sheets, and Premium quality Granules. GM Polyplast has a centrally located manufacturing plant in Silvassa and Office in Mumbai.