Nandan Denim Limited, a penny stock, touched a new 52-week high on September 11, 2024, as the record date for its third stock split nears. This textile company is a multi-bagger of 2024, with gains of a whopping 132% year-to-date. With a low PE ratio, the stock currently trading around Rs 65 levels.
Nandan Denim Share Price:
On BSE, the stock price touched a new 52-week high of Rs 65.40 apiece on September 11, before ending at Rs 65.29 apiece up by 4.82%. The stock is now up by 219% from its 52-week low of Rs 20.45 apiece.
Further, year-to-date, the stock skyrocketed by a whopping 131.88% on BSE. In a year, the upside is around 166%. All-time gains by the stock is about 1,169.71%.
Generally, during stock split adjustments, a stock price is trending, and Nandan Denim is witnessing the same.
Nandan Denim Stock Split:
As per the regulatory filing, the company has fixed Thursday, September 19, 2024, as the "Record date" for determining the eligibility of Shareholders for Sub-division/ split of existing Equity Shares of the Company from Face Value of Rs. 10/- each fully paid-up to Face Value of Re. 1/- each fully paid-up, ranking pari-passu in all respects.
Hence, the stock split ratio is 1:10 ahead.
This is the third stock split by Nandan Denim in nearly two decades. The first stock split by the company was 1:10 in November 2005, where the face value was reduced from Rs 10 each to Rs 1 each. And, then further Nandan carried a reverse stock split in March 2012, where its face value was back to Rs 10 each from earlier Rs 1.
In the upcoming 1:10 stock split ratio, the face value of Rs 10 will be cut to Re 1.
To be eligible, investors should hold Nandan Denim shares by the end of the record date, which is currently set at September 19.
Nandan Denim Shares Fundamentals:
As per Trendlyne, the following are the fundamentals of Nandan Denim shares:
- Annual Revenue rose 0.31%, in the last year to ₹2,044.68 Cr. Its sector's average revenue growth for the last fiscal year was -6.32%.
- Annual Net Profit rose 5,496.71% in the last year to ₹44.97 Cr. Its sector's average net profit growth for the last fiscal year was 8.37%.
- Stock Price rose 161.04% and outperformed its sector by 111.34% in the past year.
- Debt to Equity Ratio of 0.56 is less than 1 and healthy. This implies that its assets are financed mainly through equity.
- Mutual Fund Holding remained the same in the last quarter at 0%.
- Interest Coverage Ratio is 3.24, higher than 1.5. This means that it can meet its interest payments comfortably with its earnings (EBIT).
- Price to Earning Ratio is 18.57, lower than its sector PE ratio of 69.21.
- Return on Equity(ROE) for the last financial year was 7.68%, less than 10%, indicating an inefficient use of shareholder's capital to generate profit.
- Promoter Share Holding decreased by 6.4% in the most recent quarter to 58.47%.
- Promoter Pledges are zero.
About Nandan Denim:
Nandan Denim Limited (NDL) is India's leading and the world's fourth-largest integrated denim fabric maker. The company commenced its operations in 1994 with a textile trading business and forayed into textile manufacturing in 2004. Nandan Denim currently engages in manufacturing of denim fabric, shirting fabric and yarn.
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