Multibagger penny stock under Rs 100: This micro-cap company receives order worth Rs 5,00,05,846 from Rural Infratel International Ltd!

From Rs 38.95 per share to Rs 80.90 per share, the stock gave multibagger returns of over 100 per cent in 3 years.

Globesecure Technologies Ltd (NSE Scrip Code: GSTL) informed that the company has received a purchase order worth Rs 5,00,05,846 from Rural Infratel International Ltd. The order will be executed only after payment to the distributor is made.

The order includes:

1) 96F metal-free optical fibre cable ribbon type with double HDPE sheath.

2) 24F metal-free optical fibre cable loose type with double HDPE sheath.

3) Self-supporting metal-free aerial optical fibre cable.

Earlier, the company received a purchase order from Multi Commodity Exchange of India Limited (MCX) for the supply of services of perimeter firewall, installation and support services for five years. The said receipt of the purchase order is worth Rs 2,28,39,888 or Rs 2.29 crore.

Globesecure Technologies Limited is in the business of IT Security products and related services. GSTL is a digital transformation company with a focus on cyber security. The company has executed cybersecurity transformation projects, infrastructure, and digital transformation projects for various institutions and also provided similar independent services.

On Friday, shares of Globesecure Technologies gained 0.62 per cent to Rs 80.90 per share from its previous closing of Rs 80.40. The stock traded at an intraday high of Rs 84.50 and an intraday low of Rs 64.35.

Talking about the financials, GSTL has a market cap of Rs 74 crore. The company reported positive numbers in its half-yearly results and annual results. In H2FY23, the company reported net sales of Rs 20.29 crore compared to net sales of Rs 23.32 crore in H2FY22. The net sales increased by 41.57 per cent to Rs 1.26 crore in H2FY23 over H2FY22. In FY23, the net profit increased by 66 per cent to Rs 1.66 crore compared to 1 crore in FY22.

The stock has a 52-week high of Rs 147.50 and a 52-week low of Rs 64.35. From Rs 38.95 per share to Rs 80.90 per share, the stock gave multibagger returns of over 100 per cent in 3 years. Investors should keep an eye on this micro-cap stock.

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