Multibagger from its 52-week low: This small-cap company announces stellar results with a 72 per cent jump in revenue in FY23!
The stock gave multibagger returns of 207.36 per cent from its 52-week low of Rs 13.32 per share.
Rama Steel Tubes Ltd, a leading manufacturer of steel pipes & tubes products in India announced its Quarterly Results and annual results for the year ended March 31, 2023. Details below:
According to the quarterly results, the total revenue increased by 56.95 per cent to Rs 393.91 crore, EBITDA increased by 51.64 per cent to Rs 22.31 crore and the PAT margin (including OCI) increased by 57.58 per cent to Rs 11.62 crore in Q4FY23 over Q4FY22. The EPS for Q4FY23 stood at Rs 0.24.
According to the quarterly results, the total revenue increased by 72.83 per cent to Rs 1.343.56 crore, EBITDA increased by 15.73 per cent to Rs 59.10 crore and the PAT margin (including OCI) increased by 4.94 per cent to Rs 28.92 crore in FY23 over FY22. The EPS for FY23 stood at Rs 0.57.
Business Update for the fiscal year 2022-2023
RSTL has completed a capacity expansion of an additional 30,000 MT at the Khopoli Plant. The expansion has been completed and commercial production has already begun in Q4FY23.
On February 14, 2022, The Board of Directors approved a scheme of Amalgamation of Lepakshi Tubes Private Ltd, a wholly owned subsidiary of RSTL with the latter company under sections 230-232 of The Companies Act, 2013. This merger has been proposed to bring about operational synergies and cost savings to both companies.
The Group has announced the bonus share in the ratio of 4:1, which has been approved by the shareholders through a postal ballot on December 23, 2022, and the corresponding allotment of the same was successfully done on January 07, 2023. Previously, it announced a stock split from Rs 5 to Rs 1 and the same was successfully done on August 08, 2022.
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On Thursday, shares of Rama Steel Tubes Ltd surged 1.50 per cent to Rs 40.65 per share with an intraday high of Rs 40.94 and an intraday low of Rs 40. The stock has a 52-week high of Rs 46.10 and a 52-week low of Rs 13.32. The company have a market cap of Rs 1,895 crore with a 3-year CAGR of 230 per cent.
The stock gave multibagger returns of 207.36 per cent from its 52-week low of Rs 13.32 per share. Investors should keep an eye on this small-cap stock under the radar.