Multibagger Stock Sets Record Date For 1:1 Bonus Shares, Gains 150% From 52-Week-Low

Sunrise Efficient Marketing is a small-cap commercial services company that recorded a market cap of Rs 108.68 Cr during Friday's closing session. The company specializes in automation solutions. It offers a sizable inventory of all varieties of IE 2 and IE 3 grade induction motors, as well as power transmission products including worm and helical gearboxes, LED lighting fittings and all varieties of lubricants like hydraulic oil, gear oil and thermic fluid. It also includes industrial pumps and chemical pumps. To benefit its shareholders the company has declared 1:1 bonus shares and for the purpose of the same record date has been finalized.

"We wish to inform that the Board of Directors of the Company have fixed Friday, September 08, 2023 as the Record date for the purpose of determining the eligibility of Member's for allotment of bonus equity shares in the proportion of 1:1 i.e. 1 (One) bonus equity share of Rs. 10/- each for every existing 1 (One) equity shares of Rs. 10/- each, subject to the approval of shareholders of the company at AGM to be held on Friday, 01st September, 2023 at 11.00 A.M. at the registered office of the company," said Sunrise Efficient Marketing in a stock exchange filing on Friday.

In FY23, the company recorded a net revenue of Rs 97.73 Cr compared to Rs 65.11 Cr in FY22. Its expenses stood at Rs 86.58 Cr in FY23 as against Rs 58.45 Cr in FY22. Sunrise Efficient Marketing reported a net profit of Rs 8.00 Cr in FY23 compared to Rs 4.89 Cr in FY22 whereas its EPS stood at Rs 16.10 compared to Rs 40.90 in FY22.

On Friday, the shares of Sunrise Efficient Marketing closed on the BSE at Rs 217.35 apiece up by 1.00% from the previous close of Rs 215.20. The stock made a 52-week-high of Rs 310.00 on (19/06/2023) and a 52-week-low of Rs 87.00 on (22/08/2022), indicating that at the current market price, the stock is trading 149.82% above the 1-year low and 29.88% below the 1 year high. In the last 1 year the stock has generated a multibagger return of 139.57% and on a YTD basis, the scrip has gained 26.08% so far in 2023. During Q4FY23, the company reported promoters shareholding of 72.40% and public stake of 27.60%.