Infrastructure company Hazoor Multi Projects Ltd (HMPL), a microcap listed on the Bombay Stock Exchange (BSE), has announced its acquisition of Square Port Shipyard Private Limited, headquartered in Kolkata. The move revealed through an exchange filing on April 22, signifies Hazoor Multi Projects’ strategic initiative to broaden its operations and diversify its business portfolio.
Acquisition details
Hazoor Multi Projects has procured 100% equity shares of Square Port Shipyard for an approximate cash consideration of Rs 4 crore. Established in 2022, Square Port Shipyard specialises in the manufacturing and repair of vessels and related equipment. The acquisition aims to harness economies of scale and enhance growth prospects for Hazoor Multi Projects.
Stock performance
As of 11:45 am on April 22, shares of Hazoor Multi Projects were observed trading with a 2% decline at Rs 380.35 per share on the BSE. The company’s stock has demonstrated remarkable performance on Dalal Street. According to BSE analytics, the share price has surged significantly, yielding multibagger returns for investors. Over the past six months, the stock has soared by 227%, while over one year, it has experienced a rally of 306%.
Investor gains
Investing in Hazoor Multi Projects has proven to be highly lucrative for shareholders. Over five years, investors have witnessed a staggering growth of 29,302%, and over a decade, returns have skyrocketed to an astonishing 39,502%. Illustrating the remarkable growth potential, a hypothetical investment of Rs 25,000 made in Hazoor Multi Projects shares ten years ago would now be valued at nearly Rs 1 crore.
Strategic expansion
The acquisition of Square Port Shipyard underscores Hazoor Multi Projects’ strategic manoeuvre to capitalise on emerging opportunities in the maritime sector. With a track record of impressive growth and a commitment to diversification, Hazoor Multi Projects remains a prominent player in the market.
Also read | JPMorgan CEO lauds ‘tough’ PM Modi for doing ‘unbelievable job’ on poverty alleviation