Debt-free penny stock at Rs 3.33: This micro-cap company to host ‘Kumite 1 Asian Championship’ in Qatar in October 2024
The company has a market cap of Rs 188.58 and as of March 31, 2024, it is debt-free.
On Monday, shares of Toyam Sports Ltd were locked in a 5 per cent upper circuit to Rs 3.33 per share from its previous closing of Rs 3.18. The stock’s 52-week high is Rs 12.40 while its 52-week low of Rs 3.15.
Toyam Sports Limited (TSL), India’s Listed Sports company on the BSE & MSEI, is thrilled to announce the organization of the ‘Kumite 1 Asian Championship’ in Qatar this coming October. The exact date and venue for the championship will be disclosed shortly. TSL is currently in advanced negotiations with prominent international brands for sponsorship, as well as with leading OTT platforms and TV channels for broadcasting rights.
The Kumite 1 Asian Championship marks the first-ever clash of four nations in Mixed Martial Arts (MMA) within Asia, featuring teams from India, Pakistan, Qatar, and the UAE. To execute this landmark event, TSL and its subsidiary, Pacific Star Sports (PSS), have partnered with Speed Summit Sports Events (SSSE), a renowned Qatari sports company specializing in sports promotion, marketing, and event management.
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About the Company
Toyam Sports Limited (TSL) is a pioneering sports company listed on the BSE & MSEI. Committed to the development and promotion of sports, TSL has a diverse portfolio that includes cricket, tennis and Mixed Martial Arts (MMA). TSL continues to push the boundaries of sports entertainment and management globally.
According to the Quarterly Results, the company reported a turnaround story as it reported net sales of Rs 3.26 crore and net profit of Rs 2.08 crore in Q4FY24 compared to negative net sales of Rs 1.26 crore and net loss of Rs 3.76 crore in Q4FY23, an increase of 359 per cent and 155 per cent, respectively. In its annual results, the company reported net sales of Rs 27.92 crore and a net profit of Rs 8.44 crore in FY24 compared to net sales of Rs 3.39 crore and a net loss of Rs 12.22 crore in FY23, an increase of 724 per cent and 169 per cent, respectively.
The company’s only 0.21 per cent stake is owned by FIIs and the remaining 99.79 per cent stake is owned by the public as of June 2024. The company has a market cap of Rs 188.58 and as of March 31, 2024, it is debt-free. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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