Multibagger Magic: Small-Cap Stock Posts Stellar 117 Per Cent Jump In Net Profitability

The stock has witnessed significant buying activity, delivering multibagger returns of more than 160 per cent in just three years

On Friday, shares of Cigniti Technologies surged more than 6 per cent, reaching an intraday high of Rs 895.15 apiece on BSE. The scrip witnessed a massive spurt in volume, increasing by more than 1.67 times.

In Q4FY23, the consolidated revenue from operations increased by more than 23 per cent compared to the same quarter of the previous year, amounting to Rs 424.97 crore. The reported EBITDA level stood at Rs 68.37 crore, witnessing a surge of over 109 per cent from the March 2022 quarter. The net profit of the company zoomed more than 117 per cent from the corresponding quarter of the previous year, reaching Rs 49.24 crore.

In its financial report for the fiscal year FY22-23, Cigniti Technologies disclosed impressive numbers, with total revenue amounting to Rs 1647.58 crore, a substantial rise of 32.7 per cent from the previous fiscal year. Furthermore, the net profit for the year was Rs 168.32 crore, showing a remarkable increase of 83.5 per cent from the previous year. As a result, the board has proposed a final dividend of Rs 3 per share, in addition to a special dividend of Rs 2.50 per share, to commemorate the company's 25-year milestone achievement.

DSIJ offers a product 'multibagger Pick" with recommendations for multi-bagger stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the product details pdf here

Cigniti Technologies Limited is the world’s leading AI & IP-led digital assurance and digital engineering services company. Cigniti has over 4,100 employees who assist multinational corporations in 24 different countries to accelerate their digital transformation journey.

The stock has witnessed significant buying activity, delivering multibagger returns of more than 160 per cent in just three years. Moreover, the stock has rallied over 100 per cent in the past year. Keep a close eye on this trending stock.