52-week high alert: Multibagger micro-cap company received new order worth Rs 60 crore!

Company has given multibagger returns of more than 135 per cent in just 6 months

On June 13, 2023, the shares of Sprayking Agro Equipment Limited surged 3.92 per cent and hit a fresh 52-week high of Rs 160.05 per share on BSE. The scrip witnessed massive spurt in volume by more than 1.13 times. 

The company and its group entities have received new orders totaling Rs 60 crore. The press announcement is enclosed for the delivery of brass parts to the party, which will be finished in one year.  

Commenting on this development, Hitesh Dudhagara, Managing Director of Spray king said: "We are glad to announce that we have received such a large order. We have received this purchase order dated June 10, 2023. Our team is very enthusiastic to work relentlessly to achieve higher goals and to complete this order in time. This order will give a good mileage to the group and through the same it will increase topline of the Group. I thank the entire team of Sprayking and all our partners for their efforts, hard work and dedication in pushing the company forward.” 

Financial Highlights for FY23 (consolidated):     

· Total sales stood at Rs 19.33 crore, up 23.75 per cent over FY22, on YoY basis.   

· EBITDA stood at Rs 2.54 crore, showed an impressive jump by 2,209 per cent over FY22.   

· The profit before tax stood at Rs 2.32 crore, growth of 393 per cent over FY22. 

· The net profit reported Rs 1.70 crore, surged by 385 per cent, compared to FY22. 

Sprayking was founded in 2005 and manufactures and trades agricultural sprayer parts and garden fittings, ball valves and NRV's, turning components, brass pipe & plumbing fittings, sanitary fittings, brass compression fittings, extruded brass rods, brass fittings & lead free brass fittings and forging speciality. The Company has a genuinely global presence, with clients in the United States, Europe, Australia, Canada, South Africa, the United Arab Emirates and India. The Company's high-quality products, technical understanding and infrastructure enable it to enter global markets. 

The stock has seen tremendous purchasing activity as it has provided multibagger returns of more than 135 per cent and 140 per cent in just 6 months and one year, respectively. 

Investors must keep a close eye on this micro-cap Industrial Products stock.