Multibagger penny stock under Rs 50: Board allots 60,000 equity shares consequent to conversion of warrants

Hazoor Multi Projects Limited (HMPL) announced the allotment of 60,000 new equity shares to a single non-promoter investor, Mr. Pratham Mittal. This allotment follows the conversion of 6,000 warrants, for which the company received the final payment of Rs 13.5 lakhs. The shares were issued at Rs 30 per share, including a premium of Rs 29. This conversion increases the company's issued and paid-up capital to Rs 23,00,48,910, and the newly issued shares will have the same rights as the existing ones. Following this transaction, 82,90,950 warrants remain outstanding for future conversion.

The company has also recommended a final dividend of Re 0.20 per equity share (20 per cent) for the 2024-25 financial year. The company has set Monday, September 22, 2025, as the record date to determine which shareholders will be eligible to receive the dividend. The payment is contingent on shareholder approval at the company's 33rd Annual General Meeting (AGM) scheduled for September 29, 2025.

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Furthermore, the company has submitted a binding offer to acquire a part of Gammon Engineers and Contractors Private Limited's (GECPL) EPC business. The deal, which aims to boost HMPL's presence in the infrastructure sector, is subject to lender approval and other necessary clearances. This potential acquisition follows HMPL's recent strategic entry into the upstream energy sector through the purchase of Quippo Oil & Gas Infrastructure Ltd., which recently won a significant drilling contract from Oil India Limited.

About the Company

Hazoor Multi Projects Ltd. (HMPL) is a BSE-listed, diversified infrastructure and engineering company based in Mumbai, with core operations spanning highways, civil EPC works and shipyard services and now in the Oil and Gas Sector. Known for execution excellence and strategic clarity, HMPL has built a solid track record across capital-intensive, nationally significant projects. With a focus on scalable growth, recurring revenues and multi-vertical integration, HMPL is building a future-ready platform at the intersection of infrastructure, energy and industrial technology.

According to the Quarterly Results (Q1FY26), the net sales increased by 156 per cent to Rs 180.01 crore and the net profit increased by 46 per cent to Rs 134.79 crore compared to Q1FY25. Looking at its annual results (FY25), the company reported net sales of Rs 638 crore and a net profit of Rs 40 crore.

The company has a market cap of over Rs 900 crore. In June 2025, FIIs bought 8,08,983 shares and increased their stake to 21.90 per cent compared to March 2025. The company's shares have a PE of 22x whereas the sectoral PE is 40x. The stock gave multibagger returns of 230 per cent in just 2 years and a whopping 400 per cent in 3 years. From Rs 0.13 to Rs 41.95 per share, the stock rocketed by 32,169 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice.