Multibagger penny stock at Rs 2.28 hit a fresh 52-week high as the company enters into a facility agreement with Felix Industries Ltd
The stock gave multibagger returns of over 130 per cent returns from its 52-week low of Re 0.98 per share.
Today, shares of Srestha Finvest Ltd gained 1.33 per cent to Rs 1.87 per share from its previous closing of Rs 2.25. The stock also made a fresh new 52-week high is Rs 2.28 while its 52-week low is Re 0.98.
Srestha Finvest Ltd (Srestha) has expanded its partnership with Felix Industries Ltd (Felix) to drive sustainable growth. The two companies formalized their collaboration through a Facility Agreement. This agreement builds upon their existing business relationship and aims to accelerate investments in renewable energy and water conservation. Under the terms of the agreement, Srestha will provide Felix with up to Rs 50 million in funding over two phases to support the construction of a new plant. This plant will focus on renewable energy, clean water, and water recycling technologies, and it will fulfil an order placed by Aarti Industries Ltd.
By entering into this agreement, Srestha is demonstrating its commitment to fostering sustainable development and exploring emerging technology sectors. The company aims to expand its lending portfolio to include a wider range of environmentally friendly projects, such as waste management and green energy initiatives. The partnership with Felix represents a significant step towards achieving this goal. The financial support provided by Srestha will enable Felix to implement its plans for the new plant, which is expected to have a positive environmental impact.
The Facility Agreement between Srestha and Felix is aligned with broader efforts to create a greener and more sustainable future. The collaboration between these two companies highlights the growing importance of environmentally responsible business practices. As Srestha continues to invest in renewable energy and water-related projects, it is positioning itself as a leader in the sustainable finance sector. This partnership is expected to have a positive impact on both companies and the environment.
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About the Company
Established in 1985, Srestha Finvest Ltd. is a multifaceted financial services company offering various solutions, including loans, financing, and investments. They hold a specific regulatory license: a Category B Non-Systematically Important Non-Deposit Taking NBFC - Investment and Credit Company. This allows them to provide loans secured by various assets (securities, movable and immovable properties), offer hire purchase and leasing options, and engage in trading and investing shares.
Quarterly Results
The total increased by 710 per cent to Rs 564.16 lakh in Q4FY24 compared to the total income of Rs 69.68 lakh in Q4FY23. The company reported a net profit of Rs 506.35 in Q4FY24 compared to a net loss of Rs 461.37 crore in Q4FY23, an increase of 210 per cent.
Annual Results
The total increased by 269 per cent to Rs 1,013.01 lakh in FY24 compared to the total income of Rs 274.56 lakh in FY23. The company reported a net profit of Rs 173.86 in FY24 compared to a net loss of Rs 497.41 crore in FY23, an increase of 135 per cent. The company reported a net profit in FY24 after reporting a net loss for the past 5 years i.e., FY23, FY22, FY21, FY20 and FY19.
The company has a market cap of over Rs 180 crore and its 100 per cent stake is owned by the public. The stock gave multibagger returns of over 130 per cent returns from its 52-week low of Re 0.98 per share. 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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