Multibagger penny stock under Rs 50: This small-cap company reports stellar quarterly results and enters into principal agreement with TB Global Technologies Ltd!

The stock gave multibagger returns of 250 per cent in just 1 year, 800 per cent in 2 years and a whopping 7,000 per cent in 3 years.

Lloyds Engineering Works Limited (formerly known as Lloyds Steels Industries Limited), a leading provider of engineering solutions, is pleased to announce the formalisation of a definitive agreement with TB Global Technologies Ltd (TBG), a prominent Japanese company formed through the merger of Tokyo Boeki Machinery Ltd and Tokyo Boeki Engineering Ltd. This agreement signifies a strategic partnership aimed at manufacturing, selling, and maintaining various TBG products in the Indian market.

TBG, renowned for its expertise in supplying equipment for the Oil and gas sector, holds a significant market share in Japan for its essential products—loading arms and swivel joints. This collaboration allows LEWL to offer these products under the brand "TBNIIGATA Lloyds" in India, expanding LEWL's product portfolio and bolstering its position in the industry.

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

Quarterly Results: The net sales increased by 311.68 per cent to Rs 121.78 crore, operating profit increased by 174.95 per cent to Rs 25.32 crore and net profit increased by 148.84 per cent to Rs 18.79 crore in Q2FY24 compared to Q2FY23.

Half-yearly Results: The net sales increased by 192.33 per cent to Rs 234.98 crore, operating profit increased by 82.36 per cent to Rs 41.83 crore and net profit increased by 79.43 per cent to Rs 31.63 crore in H1FY24 compared to H1FY23.

Lloyds Steels Industries is primarily engaged in the design, manufacturing, and commissioning of heavy equipment, machinery & systems for the hydrocarbon sector, oil & gas, steel plants, power plants, nuclear plant boilers, and turnkey projects.

On Friday, shares of Lloyds Steels Industries gained 1.08 per cent to Rs 48.77 per share with an intraday high of Rs 49.90 and an intraday low of Rs 47.65.

The stock gave multibagger returns of 250 per cent in just 1 year, 800 per cent in 2 years and a whopping 7,000 per cent in 3 years. Investors should keep an eye on this Small-Cap stock.

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