400 per cent returns: This multibagger cable manufacturing company bags new orders worth Rs 15,52,00,000 from Dakshni Haryana Bijli Vitran Nigam Ltd!
The stock gave multibagger returns of over 400 per cent from its 52-week low of Rs 36.90 per share.
V-Marc India Ltd informs that the company has received purchase order from Dakshni Haryana Bijli Vitran Nigam Limited (DHBVN) for the supply of HT (11 KV) TR-XLPE U/G Cable of size 3/C×95 Sq.mm for Rs 9.38 crore and supply of HT (11 KV) TR-XLPE U/G Cable of size 3/C×50 Sq.mm for Rs 6.14 crore.
Earlier, V-Marc India Ltd secured significant new orders totalling Rs 87.42 crore from Purvanchal Vidyut Vitran Nigam Limited (PVVNL) and Dakshinanchal Vidyut Vitran Nigam Limited (DVVNL). This latest windfall includes Rs 60 crore for supplying high-voltage cables – Rs 30.91 crore for 11 KV, Rs 29.09 crore for 33 KV – and Rs 27.42 crore for various low-voltage cables.
This follows an earlier order of Rs. 14.11 crore for LT AB cables and Rs. 6.33 crore for 11 KV armoured cables, further solidifying V-Marc's position as a key supplier to these major power distribution companies.
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.
Today, shares of V-Marc India Ltd surged 5 per cent to Rs 188 per share from its previous closing of Rs 179.05 per share. The stock’s 52-week high is Rs 219.70 and its 52-week low is Rs 36.9.
Talking about the financials, V-Marc has a market cap of Rs 428.4 crore. According to the half-yearly results, the net sales increased by 212.5 per cent to Rs 175 crore and net profit increased by 500 per cent to Rs 6 crore in H1FY24 compared to H1FY23. 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 400 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.
DSIJ’s ‘Micro Marvel' service recommends micro-cap stocks with the potential to grow multifold in long run. If this interests you, do download the service details here.