19,000 Per Cent Returns: Multibagger Railway Telecom Stock In Green As Company To Expand Market Presence And Access New Markets & Technologies
The stock gave multibagger returns of 155 per cent in 1 year, 7,265 per cent in 3 years and a whopping 19,000 per cent in 5 years.
Today, the shares of MIC Electronics Ltd gained 4.66 per cent to Rs 98.50 per share from its previous closing of Rs 94.11. The stock’s 52-week high is Rs 114.74 while its 52-week low is Rs 31.95.
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.
The Board of Directors of MIC Electronics Limited met today to discuss and approve several key items. Firstly, they appointed Mr. Penumaka Venkata Ramesh as an Additional Independent Director for a five-year term, effective October 15, 2024, pending member approval within three months. Subsequently, Mr. Ramesh was appointed as the Non-Executive Chairman of the Company. Finally, the Board endorsed a proposal to acquire companies or corporate bodies operating in the same or related industries as MIC Electronics. This strategic move aims to expand the Company's market reach, access new markets, and adopt innovative technologies.
Earlier, MIC Electronics Limited informed that the company has been awarded a contract by the Malda Division of the Eastern Railway Zone to provide CIB at PF 1, 2, and 3 of Abhaipur station. The contract, valued at Rs 1,21,90,343.51, is a domestic order that was secured through a tendering process. The specific terms and conditions of the contract will be finalized during the execution phase. The Company has six months from the date of the Letter of Acceptance to complete the work.
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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.
MIC Electronics has a market cap of over Rs 2,300 crore with a 3-year stock price CAGR of 336 per cent. The stock gave multibagger returns of 155 per cent in 1 year, 7,265 per cent in 3 years and a whopping 19,000 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.