The shares of Penny stock company, specializing in the manufacturing of brass parts, including brass fittings, brass forging equipment, brass transformer parts, and others, jumped upto 5 percent following the approval of a 1:2 stock split in their recent company’s Board meeting.
With a market capitalization of 72.71 Crores on Tuesday, the shares of Sprayking Ltd jumped upto 5.6 percent, making a high of Rs. 7.15 compared to its previous closing price of Rs. 6.77.
Sprayking Ltd, engaged in the manufacturing of brass parts, including brass fittings, brass forging equipment, brass transformer parts, and others, has held a Board meeting and announced as follows.
The company has announced a stock split in the ratio of 1:2, meaning each existing share with a face value of ₹2 will be split into two shares with a face value of ₹1 each.
Along with it, the company plans to increase its authorised share capital from ₹22 crore to ₹66 crore (post-split), raise to ₹50 crore through a rights issue, and amend its Memorandum of Association accordingly, all subject to shareholder approval via postal ballot. The Board also approved appointing a scrutinizer for e-voting and various intermediaries for the rights issue process.
Financials & Others
The company’s revenue rose by 44 percent from Rs. 20.35 crores to Rs. 29.37 crores in Q4FY24-25. Meanwhile, Net profit rose from Rs. 1.07 crores to Rs. 2.08 crores in the same period.
The company’s P/E ratio of 13.54 is significantly lower than the industry average of 36.84, and its PEG ratio of 0.06 indicates potential undervaluation. Additionally, the company has delivered strong performance with an average 3-year revenue growth of 24.88 percent and net profit growth of 104.29 percent.
SPRAYKING AGRO EQUIPMENT LIMITED, founded in the early 1980s, is a leading manufacturer of 100 percent brass parts such as fittings, forging equipment, and transformer parts. As the first SME-listed company on the BSE in this segment, it combines modern, eco-friendly infrastructure with a strong focus on quality and in-house manufacturing, aiming to become one of India’s top five brass part manufacturers.
The company offers a wide range of products, including brass compression fittings, sanitary fittings, brass pipe and plumbing fittings, extruded brass rods, ball valves, non-return valves, agricultural sprayer parts, garden fittings, CNC and VMC machined parts, turning components, and customized brass parts for various industrial applications. The company has a truly global presence with an unparalleled clientele in the USA, Europe, Australia, Canada, South Africa, UAE & India.
Written by Sridhar J
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