Explosive 10 per cent surge in microcap multibagger stock driven by spectacular quarterly results

Both PAT and revenue increase more than 100 per cent on a YoY basis and over the past year the company's shares have generated a multibagger return of 120 per cent

Annapurna Swadisht Ltd which is FMCG company and listed at NSE under Small and Medium Enterprises surge by 9.55 per cent after declaring strong financial results for the second quarter of FY24 and half-year results. On standalone basis, In Q2FY24 the company recorded a robust financial performance with a 127.78 per cent year-on-year increase in net profit, reaching Rs 6.56 crore compared to Rs 2.88 crore in the corresponding quarter of the previous year. During the second quarter of FY24, the company's total net revenue showed an increase of 99.60 per cent from Rs131.41 crore to Rs 65.7 crore compared to the same quarter in the preceding year.   

Sequentially, the net profit for the quarter ending on September 30, 2023, showed an increase of 53.63 per cent from Rs 4.27 crore. However, in Q2FY24, the company's total net revenue registered an increase of 38.13 per cent compared to the previous quarter, settling at Rs 94.94 crore. 

Yesterday, the shares of the company closed at Rs 342, marking a 9.55 per cent increase. The shares of the company have 52-week high at Rs 358 and 52-week low standing at Rs 124. The company currently holds a market capitalization of approximately Rs 595 crore. Over the past one year, the company's shares have generated a multibagger return of 120.07 per cent.

Incorporated in 2015, Annapurna Swadisht Limited is a manufacturer of snacks and food products namely, Fryums, cakes, candy, namkeen, chips, and Gohona Bori. The company is one of the largest FMCG players in Eastern India.

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