Multibagger penny stock under Rs 50 & promoters sold additional 2,84,000 shares; Company reports a 29,329 per cent jump in net profit!

The stock gave multibagger returns of 308 per cent in just 1 year, 7,700 per cent in 3 years and a whopping 12,600 per cent in a decade.

Gujarat Toolroom Ltd. manufactures syringe moulding and manufacturing of moulds. The Company specializes in moulds for medical disposables, pharmaceutical, food, and beverage packaging, caps, and closures, and writing instruments.

The company announced its Quarterly Results (Q2FY24) and half-yearly results (H1FY24) for the fiscal year 2024. Here are the details:

Quarterly Results: The net sales increased by 7,83,408 times to Rs 15,668.16 lakh in Q2FY24 compared to Q2FY23. The company reported a net profit of Rs 240.28 lakh in Q2FY24 compared to a net loss of Rs 3 lakh in Q2FY23.

Half-yearly Results: The net sales increased by 2,17,625 times to Rs 15,777.84 lakh and net profit increased by 29,329 per cent to Rs 317.9 lakh in H1FY24 compared to H1FY23.

Order Updates: The company recently received a significant order valued at USD 50 million for diamonds. The order amounts to Rs 416,07,25,000 (USD 1 = Rs 83.21). GTL Gems, a foreign subsidiary of Gujarat Tool Room Limited (GTL), has secured a major sales order for precious diamonds from a valued customer. The order was secured through the relentless efforts of GTL Gems' representatives, who have nurtured strong relationships with the customer. The diamonds will be used by the customer to manufacture exquisite ornaments.

The customer has already transmitted their signed and sealed order to GTL, underscoring their commitment to this partnership. The order is a testament to the excellent service that GTL Gems has consistently provided, and its strong connection with its customers. GTL remains committed to its mission of precision, innovation, and excellence, and will keep its stakeholders informed of further developments in its ongoing pursuit of growth and success.

Today, shares of Gujarat Toolroom Ltd zoomed 2 per cent upper circuit to Rs 40.66 per share from its previous closing of Rs 39.87. The stock also made a new 52-week high of Rs 40.66 per share. In the recent trading sessions, the stock has been hitting back-to-back upper circuits and 52-week highs.

In the September quarter, promoters sold an additional 2,84,000 shares and decreased their stakes to 0.37 per cent.  The shares of the company have an ROE of 43 per cent and a ROCE of 43.7 per cent. The stock gave multibagger returns of 308 per cent in just 1 year, 7,700 per cent in 3 years and a whopping 12,600 per cent in a decade.

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