SG Mart Limited, a Surat-based textile company, has turned out to be a multibagger stock giving stellar returns to investors. In 2021, the share price of this stock was around Rs 94 which has now ascended to Rs 11,598 as of January 15, 2024.
The BSE listed stock has grown multifold in value in the last one year. The stock has given more than 2600% return in the last one year. If an investor had invested Rs 1 lakh in this share three years ago it would have turned into more than Rs 1 crore today. The stock has grown more than 12,200% in the last three years.
The price of SG Mart’s shares has increased 42 per cent in the last one month while the value has appreciated more than 65 per cent in the last three months.
Six months ago the price of this share was at Rs 2,271 level, which has now elevated 400 per cent compared to the current price of Rs 11,598 apiece.
In the quarter ending December 31, 2023, the company’s revenue increased 47,903 per cent year-on-year to Rs 748.26 crore. It was only Rs 1.56 crore in the same quarter a year ago. The company’s net profit stood at Rs 17.19 crore in Q3FY24. Notably, the company had reported zero profit in the December quarter of FY22.
Amid the stellar returns the company has announced a bonus share issue. SG Mart recently informed the stock exchanges that its Board of Directors has approved a proposal for stock split and issuance of bonus shares. The company’s board has approved a 1:1 bonus share issuance for its eligible shareholders.
The company is engaged in manufacturing and supply of textile products.
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