2022 Multibagger Stock Approves Stock Split in 1:10 Ratio: Check Details

About the Maximus International stock split:

The company announced the stock split at its board meeting held on Thursday, August 18, 2022. The company approved the stock split/split of 1 share of the company with a par value of Rs. 10 each in 10 shares with the new par value of Rs. 1, subject to required regulatory/statutory approvals and the approval of the shareholders of the Company. Thus, the stock split was announced at a ratio of 1:10.

Rationale for the stock split:

Rationale for the stock split:

Regarding the rationale for the stock split, the company, through this initiative, aims to increase the liquidity of its shares in the capital market. Additionally, it appears to broaden shareholding and make stocks more affordable for retail investors.

Maximus Q1Fy23 performance:

Maximus Q1Fy23 performance:

The company recorded a massive decline in operating revenue on an annual basis from Rs. 2.50 crore in Q1Fy22 to Rs. 0.24 crore in the Q1Fy23 period. Nonetheless, the company’s net profit for the reporting period stood at Rs. 0.1 crore compared to Rs. 0.01 crore in the same period last year. Likewise, the company’s EPS, after being in the negative zone for the past two quarters, increased in value and turned positive.

Maximus International share price trajectory:

Maximus International share price trajectory:

The firm in trade hit a new high of Rs. 269.1 per share today. Its 52-week minimum and 52-week maximum are Rs.85 and Rs. 269.1 per share, respectively. The stock over the past year has fallen 177%, while on a YTD basis it has risen 174%.

About the company:

About the company:

Maximus International Limited markets oils and chemicals in India and overseas. It imports and exports lubricating oils, various base oils and other chemicals primarily for use in automotive, energy, metal fabrication and other industries. The company offers a range of automotive oils, such as diesel and gasoline engine oils, automatic transmission brake oils, brake fluids, and more.

The company’s peer companies are Adani Enterprises, Sundram, Redington and Apollo Tricoat.

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Sallie R. Loera