Multibagger penny stock under Rs 25 hits 5 per cent upper circuit as the company reports stellar quarterly results!
The stock gave multibagger returns of 135 per cent from its 52-week low of Rs 9.90 per share.
SRU Steels Ltd, incorporated in 1995, does trading of stainless steels and acts as a consignment agent, hereby announced Quarterly Results (Q1FY24). Details below:
According to the quarterly results:
- Revenue from Operations grew by 489.76 per cent from Rs 1.55 crore in Q1FY23 to Rs 9.16 crore in Q1FY24.
- EBITDA decreased by 8.87 per cent from Rs 0.12 crore in Q1FY23 to Rs 0.11 crore in Q1FY24.
- PAT increased by 103.03 per cent from a net profit of Rs 0.03 crore in Q1FY23 to a net profit of Rs 0.07 crore in Q1FY24.
According to the annual results, the net sales increased by 11.36 per cent to Rs 16.72 crore and net profit increased by 201.73 per cent to Rs 0.70 crore in FY23 over FY22.
Additionally, the company announced bonus shares in the ratio 1:2 to its shareholders as of the record date. The ex-bonus date was Wednesday, May 03, 2023.
SRU Steels Limited trades and wholesales steel and iron products. The company focuses on trading in various types of steel products, as well as the sale of steel products for infrastructure and housing projects.
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On Wednesday, one of the Top Gainers on BSE, shares of SRU Steels Ltd zoomed 5 per cent upper circuit to Rs 23.25 per share from its previous closing of Rs 21.15. The shares of the company saw a spurt in volume by more than 2 times on BSE.
The stock gave multibagger returns of 135 per cent from its 52-week low of Rs 9.90 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.