Multibagger penny stock at Rs 12: This micro-cap company plans to enter electrical panels segment – know more here!

The stock gave multibagger returns of over 170 per cent from its 52-week low of Rs 4.21 per share.

Sharika Enterprises Ltd (SEL), a well-established leader in the Indian power sector, has embarked on a new venture by announcing its entry into the manufacturing of electrical control panels. This move signifies their ambition to revolutionize the power sector through their commitment to excellence and unwavering dedication to customer satisfaction. Sharika's established strengths position them well for success in this new endeavour.

Their proven track record of excellence and deep understanding of customer needs, coupled with their focus on innovation, position them to set new benchmarks in the industry. By leveraging their expertise and commitment to quality, Sharika Enterprises is poised to become a prominent player in the electrical control panel market. As part of its larger vision for a brighter future in the Indian power sector, Sharika Enterprises, a stalwart in this domain, continues to shape industry growth dynamics.

Their dedication to digitalization and focus on flexible power system operations exemplify the company's commitment to remaining at the forefront of technological innovation. These continuous efforts underscore Sharika Enterprises' determination to contribute significantly to the advancement of the Indian power sector.

Sharika Enterprises Ltd. is a seasoned power sector expert with a legacy of expertise in transmission and distribution. The company envisions leading a transformative shift towards a 'Smart Grid' future, fuelled by innovation, cutting-edge technologies, and sustainability. Their significant focus extends to the solar power sector, with a proven track record of successful solar PV project implementations in collaboration with government bodies, PSUs, schools, and the private sector. Sharika Enterprises offers a comprehensive suite of solar solutions, including grid-connected and off-grid systems, hybrid solutions, battery energy storage, EV charging systems, microgrids, real-time monitoring, and solar streetlights.

Today, shares of Sharika Enterprises Ltd plunged 1.12 per cent to Rs 11.51 per share from its previous closing of Rs 11.64 with an intraday high of Rs 11.80 and an intraday low of Rs 11.40.

The company has a market cap of Rs 49.84 crore. According to Quarterly Results, the net sales increased by 111 per cent to Rs 24.45 crore in Q3FY24 compared to Q3FY23. The company reported a net loss of Rs 1.88 crore in Q3FY24.

The stock gave multibagger returns of over 170 per cent from its 52-week low of Rs 4.21 per share. Investors should keep an eye on this micro-cap stock.

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