1466 per cent return: Multibagger stock skyrockets over 7 per cent: Hits new 52- week high!
The stock has gained momentum in the past 1 year as it has given more than 83 per cent returns.
On July 06,2023, the shares of Olectra Greentech Limited soared 7.11 per cent. The stock hits new 52-week high of Rs 1076.65 per share on BSE. The scrip witnessed significant surge in volume by more than 1.39 times.
The prevailing market sentiment was dampened, as both the Sensex and Nifty maintained a relatively stagnant trading pattern. Contrary to market sentiments the shares of Olectra Greentech Limited witnessed singnificant buying activity.
The consolidated financial results of Olectra Greentech Limited for Q4FY23 reported total revenue of Rs 376 crore and witnessed a surge of 38.74 per cent YoY basis, from last year same quarter. In similar fashion operating profit zoomed 56.25 per cent from corresponding quarter last year to Rs 50 crore. The PAT (profit after tax) increased by 55.55 per cent from March 2022 quarter to report Rs 28 crore.
Correspondingly, consolidated financial statements for FY23 reported its total revenue at Rs 1,091 crore, up by 83.97 per cent over FY22. EBITDA level (operating profit) stood at Rs 141crore, up by 65.88 per cent compared to previous year. Net profit of the company rose by 91.42 per cent, as compared to FY22 to Rs 67 crore.
Over the past five years, the company has exhibited an impressive compound annual growth rate (CAGR) of 49.1 per cent in terms of profit, reflecting a remarkable trajectory of profit growth.
Founded in 1992, Olectra Greentech Limited is a renowned company specializing in the production of composite polymer insulators and electrical buses. Headquartered in Hyderabad, the company has established itself as a prominent player in the industry.
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The stock has gained momentum in the past 1 year as it has given more than 83 per cent returns. Furthermore, the stock has produced multibagger returns of more than 1466 percent over the last three years. Keep a close eye on this trending stock.