1,177 per cent jump in net profit: Heavy buying witnessed in this penny stock under Rs 30; hit 52-week high!

1,160 per cent jump in net profit: Heavy buying witnessed in this penny stock under Rs 30; hit 52-week high!

Captain Polyplast Ltd, a manufacturer, exporter & trading company of supreme quality HDPE pipes and irrigation equipment. The company announced its Quarterly Results ended June 30, 2023. Details below:

Consolidated Financial Highlights for the Q1FY24: 

• Net sales stood at Rs 72.62 crore, up 78 per cent compared to Q1FY23. 
• Operating stood at Rs 7.34 crore, up 198 per cent compared to Q1FY23. 
• Profit before tax stood at Rs 5.03 crore, up 1,061 per cent compared to Q1FY23.  
• Profit After Tax of Rs 3.78 crore, up 1,177 per cent compared to Q1FY23.  
• The EPS for Q1FY24 is Rs 0.75.

According to the annual results, the net sales increased by 21.62 per cent to Rs 225 crore, operating profit increased by 13.33 per cent to Rs 17 crore and net profit increased by 100 per cent to Rs 6 crore in FY23 compared to FY22. The company has a market cap of Rs 125 crore with a 5-year stock price CAGR of 65 per cent.

On Monday, shares of Captain Polyplast Ltd zoomed 18.52 per cent to make a new 52-week high of Rs 26.75 per share from its previous closing of Rs 22.57. At the closing bell, shares of the company were trading at Rs 24.19 per share, up 7.18 per cent with a spurt in volume by more than 3.27 times on BSE.

The stock is up by 25 per cent in 3 months and over 50 per cent in 1 year.  Investors should keep an eye on this micro-cap stock.

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