1:1 Bonus Share Penny Stock Under Rs 5 Hits Upper Circuit Today; Q4 FY24 Net Profits Surged by 350 per cent: Must Watch!

From Rs 31 crore Rs 6 Crore, the Company has reduced its debt by around 81 per cent.

Incorporated in 1983, the company specializes in manufacturing and exporting diamond-studded jewellery. The company offers a wide range of products including rings, necklaces, earrings, bracelets, pendants, and more.

At the start of Monday’s trading session, the Kanani Industries Ltd stock opened at Rs 2.77 per share, compared to Friday's closing figure of Rs 2.74 per share on the BSE. The stock has reached the upper circuit price limit of 10 per share, reflecting strong demand in the market with no sellers willing to offer shares, resulting in potential buyers being unable to make purchases, leading to disappointment among buyers. Finally, the stock closed at Rs 3.01 per share on the BSE. The company's current market capitalization stands at Rs 59.56 crore.

As per Quarterly Results in Q4 FY24, the company reported a quarterly revenue from operation of Rs 53.29 crore while the net profit of the company stood at Rs 0.03 crore in Q4 FY24 compared to a net loss of Rs 0.01 crore.

Turning attention to the annual performance of the company, Kanani Industries Ltd reported a revenue of Rs 223 crore while the company’s net profit stood at Rs 1 crore in FY24 compared to a profit of Rs 2 crore.

Regarding the shareholding pattern of Kanani Industries Ltd, the promoters own 57.21 per cent of the company and the public or retail investors hold 42.80 per cent.

Investors must keep this micro-cap stock on their radar.

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