Hazoor Multi Projects Acquires Kolkata Shipyard, Delivers Multibagger Returns

Hazoor Multi Projects Limited, a BSE-listed microcap company, has acquired 100% ownership of Square Port Shipyard Private Limited, a recently incorporated company based in Kolkata, for Rs 3.92 crore. The acquisition is aimed at achieving economies of scale and diversification for Hazoor Multi Projects' future growth.

Square Port Shipyard, which specializes in the manufacturing and repair of vessels, is a small company in its first year of operation. It has an authorized capital of Rs 15 lakh and reported a net loss of Rs 17,990 for the financial year 2022-23.

Hazoor Multi Projects, with a market capitalization of over Rs 700 crore, has been delivering exceptional returns to its investors. The company's stock has generated multibagger gains of 307% in 1 year, 9,350% in 3 years, 29,000% in 5 years, and an impressive 39,502% over the past decade, making it a microcap stock to watch out for.

In the third quarter of the financial year 2023-24, Hazoor Multi Projects reported a net profit of Rs 10.29 crore. The acquisition of Square Port Shipyard for around Rs 4 crore represents a strategic move by the company to expand its operations and diversify its portfolio, capitalizing on opportunities in the maritime industry.

Why this matters: The acquisition of Square Port Shipyard by Hazoor Multi Projects highlights the potential for microcap companies to deliver substantial returns to investors. It also underscores the importance of strategic acquisitions in driving growth and diversification for smaller companies.

Commenting on the acquisition, a spokesperson for Hazoor Multi Projects stated, "The acquisition of Square Port Shipyard aligns with our long-term growth strategy. We believe this move will enable us to tap into new opportunities in the maritime sector and create value for our shareholders."

Key Takeaways

• Hazoor Multi Projects acquires 100% of Square Port Shipyard for Rs 3.92 crore.
• Square Port Shipyard is a small company in its first year with Rs 15 lakh capital.
• Hazoor Multi Projects is a microcap stock with exceptional returns up to 39,502%.
• Acquisition aims to achieve economies of scale and diversify Hazoor's portfolio.
• Acquisition highlights potential for microcaps to deliver substantial returns.