This industrial stock declares 2.5:1 stock split, scrip ended on a positive note

A small-cap company with a market valuation of ₹103.19 Cr, Jost's Engineering Company Limited operates in the industrial industry. Material handling devices (MHD) are manufactured by Jost's Engineering Company Limited, which also offers a variety of engineering products (EPD) solutions. Today the company has declared its Q3 earnings as well as corporate action of stock split in a 2.5:1 ratio.

In addition to declaring stock split in the ratio of 2.5:1 (i.e 2.5 new equity shares of ₹2 each for existing 1 equity share of Rs. 5/-), Jost's Engineering Company also announced that the Board has appointed Ms. Rekha Shreeratan Bagry, Mr. Sanjiv Swarup and Mr. Pramod Maheshwari as an additional- Non Executive Independent Directors of the company for a term of 5 years.

On a standalone basis, the company reported revenue from operations of ₹38.29 Cr in Q3FY23 compared to ₹32.57 Cr in Q3FY22, representing a growth of 17.56% YoY. The company recorded a net profit of ₹1.99 Cr in the quarter ended December 2022 compared to ₹1.88 Cr in the year-ago quarter, representing a YoY growth of 5.85%. The company's net expenses reached ₹36.32 Cr in Q3FY23 compared to ₹30.14 Cr in Q3FY22, whereas the EPS of Jost's Engineering Company reached ₹11 in Q3FY23 against ₹10 in the year-ago quarter. 

On a consolidated basis, the company's net sales reached ₹41.43 Cr in Q3FY23 compared to ₹34.71 Cr in Q3FY22, representing a YoY growth of 19.36%. The company recorded a net profit of ₹2.27 Cr in the quarter ended December 2022 compared to ₹1.89 Cr in the year-ago quarter, representing a YoY growth of 20.10%. On a consolidated basis, the company's EPS stood at ₹12 in Q3FY23 as against ₹10 in Q3FY22.

The shares of Jost's Engineering Company closed today on the BSE at ₹553.10 apiece level, up by 1.20% from the previous close of ₹546.55. In the last 1 year, the stock has gained 26.01% and on a YTD basis, it has gained 17.83% so far in 2023. The stock made a 52-week-high of ₹573.90 on (23/01/2023) and a 52-week-low of ₹375.00 on (16/05/2022). For the quarter ended December 2022, the company posted a promoter shareholding of 49.48% and a public stake of 50.52%.