230 per cent returns: This multibagger cable manufacturing company bags new orders worth Rs 20,01,47,317 from PVVNL and MVVNL!

The stock gave multibagger returns of over 230 per cent from its 52-week low of Rs 36.90 per share.

V-Marc India Ltd informs that the company has bagged orders worth Rs 20,01,47,317 from Purvanchal Vidyut Vitran Nigam Limited (PVVNL) and Madhyanchal Vidyut Vitran Nigam Limited (MVVNL). Details of LOI below:

1) Supply of 11 KV XLPE Cable Size 3×185 Sq.mm for Rs 11,51,94,373 (Rupees eleven crore fifty-one lakh ninety-four thousand three hundred seventy-three only) from PVVNL.

2) Supply of 33 KV Aluminium XLPE Cable 3×300 Sq.mm for Rs 8,49,52,944.00 (Rupees eight crore forty-nine lakh fifty-two thousand nine hundred forty-four only) from MVVNL.

V-Marc India Ltd is in the business of manufacturing and sales of various kinds of wires and cables. The company has been manufacturing wires and cables under the V-MARC brand since 2006.

On Monday, shares of V-Marc India Ltd surged 5 per cent to Rs 121.60 per share from its previous closing of Rs 115.85. The stock’s 52-week high is Rs 142.45 and its 52-week low is Rs 36.90.

Talking about the financials, V-Marc has a market cap of Rs 277 crore. According to the half-yearly results, the net sales increased by 6.40 per cent to Rs 133 crore and net profit increased by 100 per cent to Rs 8 crore in H2FY23 compared to H2FY22. In FY23, the net sales increased by 38 per cent to Rs 247 crore and net profit increased by 100 per cent to Rs 10 crore compared to FY22.

The stock gave multibagger returns of over 230 per cent from its 52-week low of Rs 36.90 per share. Investors should keep an eye on this micro-cap stock.

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