After rallying over 1800% in 3 years, multibagger stock Tips Industries sets record date for 1:10 stock split

“In terms of Regulation 42(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that the Board of Directors of the Company, at its meeting held on April 3, 2023, has fixed Friday, April 21, 2023 as the Record Date for the purpose of determining the eligibility of Shareholders with regard to sub-division /split of every 1 (One) equity share having face value of Rs. 10/- (Rupees Ten Only) each, fully paid-up into 10 (Ten) equity shares having face value of Re. 1 (Rupee One Only) each fully paid-up, as approved by the shareholders through Postal Ballot by way of electronic means on March 27, 2023,” said Tips Industries in a stock exchange filing.

The record date has been fixed for determining the eligibility of shareholders for the purpose of sub-division /split of every 1 equity share having face value of Rs. 10/- each, fully paid-up into 10 equity shares having face value of Re. 1 each fully paid-up.

During the quarter ended December 2022, the company recorded a net income of ₹52.23 Cr compared to ₹45.38 Cr recorded during the quarter ended December 2021. The company’s net expenses reached ₹25.21 Cr during Q3FY23 compared to ₹18.75 Cr during Q3FY22 and its EBIT stood at ₹27.01 Cr during Q3FY23 compared to ₹26.64 Cr reported during Q3FY22. Tips Industries said its net profit stood at ₹20.19 Cr as against ₹19.93 Cr in the year-ago quarter and its EPS reached ₹15.57 during Q3FY23 compared to ₹15.37 recorded during the same quarter of FY22.

The shares of Tips Industries closed today on the NSE at 1,570.05 apiece level, down by 0.58% from the previous close of ₹1,579.15. The stock recorded a total traded volume of 18,330 shares compared to the 20-day average volume of 4,825 shares. The stock has produced a multibagger return of 1,439.26% over the past five years, and a multibagger return of 1,826.44% during the past three years. The stock has dropped 30.38% over the past year, and it is down 10.02% YTD in 2023. The stock touched a 52-week-high of ₹2,368.00 on (06-Apr-2022) and a 52-week-low of ₹1,250.10 on (14-June-2022). During Q3FY23, the company recorded a promoter shareholding of 74.98%, FIIs stake of 0.10%, and a public stake of 24.93%.