Multibagger Stock To Turn Ex-Split Next Week, Gains 372% From 52-Week-Low

AKI India is a small cap consumer discretionary company that recorded a market cap of Rs 147.98 Cr during Friday’s closing session. The main businesses of AKI, a public limited corporation, are designing and producing leather products for equestrian activities, including horse covers, leather footwear, leather bags, belts, and finished leather.

In order to enhance liquidity in the market, AKI India has announced a 1:5 stock split and the stock is going to turn ex-split on 22nd June, 2023. “The Company has fixed Thursday, 22nd June, 2023 as the Record Date, for the purpose of ascertaining the eligibility of shareholders entitled for Sub-division / Split of 1 (One) Equity share of the Company having face value of Rs. 10/- (Rupees Ten Only) each into 5 (Five) Equity shares having face value of Rs. 2/- (Rupees Two Only) each,” said AKI India in a stock exchange filing.

During Q4FY23, the company recorded a net income of Rs 15.03 Cr compared to Rs 20.37 Cr in Q4FY22, down by 26.21% YoY. The company’s net expenses stood at Rs 14.15 Cr in March 2023 quarter compared to Rs 14.88 Cr in March 2022 quarter. The EBIT of the company reached Rs 0.87 Cr as against Rs 5.48 Cr in the corresponding quarter of FY22. The net profit of AKI India stood at Rs 0.23 Cr during Q4FY23 as against Rs 3.38 Cr in Q4FY22.

On Friday, the shares of Aki India Ltd closed on the BSE at Rs 112.65 apiece up by 2.36% from the previous close of Rs 110.05. The stock touched a 52-week-high of Rs 122.20 on (19/04/2023) and a 52-week-low of Rs 23.84 on (12/07/2022), indicating that at the current market price the stock is trading 7.81% below the 1 year high and 372.52% above the 1 year low. During Q4FY23, the company recorded promoters shareholding of 73.00% and a public stake of 27.00%.