17,000 per cent returns: Multibagger railway telecom stock under Rs 110, hit upper circuit on September 23
The stock gave multibagger returns of 315 per cent in 1 year, 7,740 per cent in 3 years and a whopping 17,000 per cent in 5 years.
Today, the shares of MIC Electronics Ltd hit a 5 per cent upper circuit to an intraday high of Rs 103.56 per share from its previous closing of Rs 98.63. The stock’s 52-week high is Rs 114.74 while its 52-week low is Rs 23.
MIC Electronics Limited has been awarded two significant contracts by the Indian Railways this month. The Western Railway Zone's Ratlam Division has placed an order worth Rs 86,44,051.35 for the supply and installation of telecom equipment for foot overbridges at 14 stations. The Southern Railway Zone's Salem Division has also awarded a contract worth Rs 1,33,08,976.53 for providing telecom-based passenger amenities and FIOSNET services at multiple stations. These domestic contracts are anticipated to be completed within 6 to 10 months from the date of acceptance.
MIC Electronics Ltd., founded in 1988, is a leading manufacturer of LED displays (indoor, outdoor, mobile), lighting solutions (indoor, outdoor, solar), telecom equipment and software. They also produce medical equipment like oxygen concentrators and batteries. Headquartered in India, MIC exports its products globally and has a presence in the USA, Australia, UK and other countries.
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According to Quarterly Results, the net sales increased by 53 per cent to Rs 10.71 crore and net profit increased by 59 per cent to Rs 1.97 crore in Q1FY25 compared to Q1FY24. In its standalone annual results, the net sales increased by 826.3 per cent to Rs 54.58 crore and net profit increased by 41,967.3 per cent to Rs 61.84 crore in FY24 compared to FY23. Looking at the consolidated annual results, the company reported net sales of Rs 22.91 crore and net profit of Rs 0.26 crore in FY24.
FIIs bought 2,01,99,118 shares in Q1FY25 and increased their stake to 8.38 per cent compared to 0.29 per cent in March 2024. MIC Electronics has a market cap of Rs 2,495 crore with a 3-year stock price CAGR of 336 per cent. The stock gave multibagger returns of 315 per cent in 1 year, 7,740 per cent in 3 years and a whopping 17,000 per cent in 5 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.