Multibagger stock: Hardwyn India announces Q1 results after bonus, split; shares up 172% in just 1 year

Hardwyn India, a small-cap stock that has yielded multibagger returns to its investors in just one year, has announced its earnings for the first quarter of the current financial year 2023-24. The architectural hardware manufacturer in a BSE filing said that its net sales stood at Rs 36.86 crore in the quarter. The net sales grew 6.85 per cent to Rs 27.3 crore in the quarter versus Rs 25.60 in the same quarter of the previous financial year. The operating profit in the quarter came in at Rs 1.59 crore.

According to a company statement, for the entire FY2023, its net profit jumped 165 per cent to Rs 9 crore from Rs 3.4 crore in the preceding fiscal. 

Shares of Hardwyn India have delivered a multibagger return of 172 per cent in the last year. On a YTD basis, the small-cap stock having a market cap of Rs 1,362 crore, has yielded a return of 52 per cent. Going by BSE analytics, the stock has made its investors wealthier by a whopping 1,223 per cent in two years.

Hardwyn India, specialised in manufacturing architectural hardware and glass fittings for various sectors, also drafted a scheme of amalgamation with Fiba Hardwyn Locks in the April-June wuarter. The firm is known for manufacturing stainless steel products for residential and commercial infrastructure projects.

Earlier in June, the company's shares turned ex-date for twin corporate actions of bonus and split. While the bonus was issued in the ratio of 1:3, the face value of equity shares was sub-divided in the ratio of 10:1.

This was the second issuance of bonus shares by the company within a year. Back in July 2022, the company issued bonus shares in a ratio of 1:2.

Meanwhile, Sensex and Nifty ended in the positive territory on Monday, helped by buying in Reliance Industries and Infosys shares. The 30-share BSE Sensex climbed 79.27 points or 0.12 per cent to settle at 65,401.92. During the day, it fell 500.77 points or 0.76 per cent to 64,821.88. The NSE Nifty gained 6.25 points or 0.03 per cent to end at 19,434.55.