Multibagger penny stock under Rs 50: This micro-cap company partners with Digikore Studios Ltd; details inside!
The stock gave multibagger returns of over 100 per cent in just 1 year.
Emerald Finance Ltd has formed a strategic partnership with Digikore Studios Limited, a leading visual effects company, to introduce an Early-Wage Access program for Digikore's employees. This program offers employees the convenience of accessing a portion of their earned salary before their regular payday, providing much-needed financial flexibility. Digikore's vast employee base across various film and television projects makes it an ideal partner for Emerald Finance as it expands its salary advance solutions.
Emerald Finance has been actively developing a salary advance product designed to offer short-term loans to employees, which are then repaid through convenient salary deductions. The partnership with Digikore marks a significant step towards realizing this vision, as it allows Emerald Finance to offer its financial services directly to a large group of employees while also providing valuable support to Digikore's workforce.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
About the Company
Emerald Finance Limited, established in 1983, is a New Delhi-based NBFC specializing in micro, small, and medium enterprise financing, as well as retail customer loans. This RBI-registered company generates income through commissions, interest, and dividends. It focuses on existing clients, syndicating large loans through financial institutions and conducting rigorous vetting processes for loans exceeding 5 lakhs, assessing financials, past performance, and promoter credibility.
On Tuesday, shares of Emerald Finance Ltd gained 1.18 per cent to Rs 47.26 with an intraday high of Rs 47.87 and an intraday low of Rs 45.11 from its previous closing of Rs 46.71. The stock’s 52-week high is Rs 48.84 and its 52-week low is Rs 18.05. The company has a market cap of Rs 140 crore.
According to Quarterly Results, the net sales increased by 58.2 per cent to Rs 4.40 crore and net profit increased by 98.9 per cent to Rs 1.71 crore in Q1FY25 compared to Q1FY24. In its annual results, the net sales increased by 15.8 per cent to Rs 13.33 crore and net profit increased by 20 per cent to Rs 4.14 crore in FY24 over FY23. The stock gave multibagger returns of over 100 per cent in just 1 year and investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
Also Read: Penny stock below Rs 20: Solar water pump manufacturing company bags new order worth Rs 30 crore from Rajasthan Horticulture Department, Jaipur, Rajasthan