Multibagger penny stock under Rs 30 hits 20 per cent upper circuit as the company reports a 2,245 per cent jump in net profit!
The shares of the company have a PE of 3.79x whereas the industry PE is 13.10x with an ROE of 28.69 per cent.
On Thursday, one of the Top Gainers on BSE, shares of KCP Sugar & Industries Corporation Ltd hit 20 per cent upper circuit to Rs 29.76 per share from its previous closing of Rs 24.80. At the closing bell, shares of the company were trading at Rs 28.79 per share, up 16.09 per cent with a spurt in volume by more than 9.16 times on BSE.
The company announced its stellar Quarterly Results which was the main reason for a sudden rise in stock price.
According to the quarterly results:
- Revenue from Operations grew by 30.06 per cent from Rs 73.68 crore in Q1FY23 to Rs 95.84 crore in Q1FY24.
- EBITDA skyrocketed by 1,958.62 per cent from Rs 1.87 crore in Q1FY23 to Rs 38.46 crore in Q1FY24.
- PAT skyrocketed by 2,245.45 per cent from a net loss of Rs 1.43 crore in Q1FY23 to a net profit of Rs 30.68 crore in Q1FY24.
According to the annual results:
- Revenue from operations decreased by 9.44 per cent from Rs 319.40 crore in FY22 to Rs 289.26 crore in FY23.
- The EBITDA increased by 139.51 per cent from Rs 30.03 crore in FY22 to Rs 71.93 crore in FY23.
- PAT skyrocketed by 1,497.82 per cent from Rs 3.58 crore in FY22 to Rs 57.15 crore in FY23.
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K.C.P. Sugar and Industries Corporation Ltd is engaged in the manufacturing of sugar as well as its associated products such as rectified spirit, extra neutral alcohol, ethanol, incidental cogeneration of power etc. The company has a market cap of Rs 330 crore and has delivered good profit growth of 52.20 per cent CAGR over the last 5 years.
The shares of the company have a PE of 3.79x whereas the industry PE is 13.10x with an ROE of 28.69 per cent. The stock is up by 29 per cent in 1 year, over 80 per cent in 3 years and gave multibagger returns of over 110 per cent in 4 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.