Ashish Kacholia’s portfolio multibagger stock reports stellar quarterly results with 125 per cent jump in net profit; scrip up by 185 per cent in just 1 year!
The stock gave multibagger returns of 185 per cent in just 1 year whereas BSE Sensex Index is up by 10.10 per cent.
Balu Forge Ltd, a leading forging company in India, informed that The Board of Directors of the company has released its Quarterly Results ended June 30, 2023. Details below:
Consolidated Financial Performance Comparison - Q1FY24 vs Q1FY23:
- Revenue from Operations increased by 112.86 per cent and stood at Rs 112.38 crore in Q1FY24 from Rs 52.78 crore in Q1FY23 led by an increase in demand for our products in our operating markets and the introduction of heavier crankshafts.
- EBITDA increased by 180.41 per cent to Rs 21.90 crore in Q1FY24 from Rs 7.81 crore in Q1FY23, margins increased from 14.80 per cent in Q1FY23 to 19.48 per cent in Q1FY24 due to better operational efficiency, increased scale of operations and better product mix.
- PAT increased by 125.35 per cent and stood at Rs 16.67 crore in Q1FY24, compared to Rs 7.70 crore in Q1FY23, margins increased from 14.01 per cent in Q1FY23 to 14.83 per cent in Q1 FY24.
Commenting on the performance of Q1 FY24, the management team of Balu Forge Industries Ltd. stated:
Q4FY23 had a successful start with strong product demand and improved profitability. The company's robust performance was driven by its established product range, new product introductions, and operational efficiency. QL is well-positioned to capitalize on emerging opportunities in the commercial vehicles, power generation, defence, and railway industries. The company is committed to innovation and customer-centricity and will continue to grow its revenue sustainably. The company also like to emphasize that our capex plan for enhancing our machining capacity by 15,000 tonnes of the Mercedes Benz plant in Belgaum, Karnataka is on track.
Furthermore, Ashish Kacholia, an ace investor, participated in the preferential issue of shares. He acquired 21,65,500 shares, which represents 2.16 per cent of the total shares issued.
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On Friday, shares of Balu Forge Ltd ended the trading session in the red, down 0.14 per cent to Rs 182.65 per share with an intraday high of Rs 185.50 and an intraday low of Rs 180.60.
The stock gave multibagger returns of 185 per cent in just 1 year whereas BSE Sensex Index is up by 10.10 per cent. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.