The company has said today in a stock exchange filing that “We are pleased to inform you the outcome of the meeting of Board of Directors of the Company held today as follows: 1. The Board of Directors of the Company have postponed the approval of Sub-division (split) of Equity Share of the Company having a face value of Rs. 10/- each (fully paid- up) into one (1) Equity Share of face value of Re. 1/- each (fully paid-up) & Alteration of authorized share capital clause of the Company in the Memorandum of Association and the same will be considered in next Board Meeting."
In Q2FY23, the company reported a net income of ₹1.53 Cr compared to ₹1.43 Cr posted in Q2FY22, representing a YoY growth of 7%. The company reported net expenses of ₹1.40 Cr in Q2FY23 compared to ₹1.35 Cr posted in Q2FY22, representing a YoY growth of 3.70%. The company posted an EBIT of ₹0.14 Cr in the quarter ended September 2022 compared to ₹0.07 Cr posted in the same quarter last year. The company declared a net profit of ₹0.12 Cr in Q2FY23 compared to ₹0.04 Cr posted in Q2FY22. Indo Cotspin posted an EPS of ₹0.28 per share in Q2FY23 as against ₹0.10 apiece in the year-ago quarter.
The shares of Indo Cotspin Ltd closed today at ₹74.00 apiece level, down by 2.89% from the previous close of ₹76.20 apiece on the BSE. The stock recorded a total volume of 5,237 shares compared to the 20-Day average volume of 13,209 shares. The stock has produced a multibagger return of 1,229.98% over the past three years and a multibagger return of 477.38% over the past five years. The stock has appreciated 36.62% over the past year, and on a YTD basis, the stock has gained 33.85% so far in 2022. The stock had touched a 52-week-high of ₹102.00 on (18/11/2022) and a 52-week-low of ₹14.35 on (28/07/2022), indicating that at the current market price the stock is trading 27.45% below the high and 415.67% above the 1-year low. For the quarter ended September 2022 or Q2FY23, the company declared a promoter shareholding of 59.21% and a public stake of 40.79%.
