Multibagger stock below Rs 15: This micro-cap company bags an order worth Rs 5,67,07,103!

From Rs 0.67 per share to Rs 12.75 per share, this stock gave multibagger returns of 1,802.98 per cent in just 2 years.

On Friday, shares of MIC Electronics zoomed 2.22 per cent to Rs 12.90 per share from its previous closing of Rs 12.62. The stock has a 52-week high of Rs 19 and a 52-week low of Rs 10.86.

MIC Electronics informed that the company has received a Letter of Acceptance from the Delhi Division of the Northern Railway Zone and the Solapur Division of the Central Railway Zone. The aggregate value of the said work order is Rs 5,67,07,103.  

Additionally, the company participated in Railway tenders and received LOA’s worth Rs 29,07,65,117 till date and further we have been confirmed by various Railway zones as L1 (Lowest Bid) for Rs 76,62,46,174 worth of orders.  

MIC Electronics is a global leader in the design, development & manufacturing of LED Video Displays, high-end electronic and telecommunication equipment and development telecom software.  

The company has a market cap of Rs 279.47 crore, according to the financials. The net sales rose by 40x and net profit rose by 3x in FY22 over FY21. The maximum stake of the company is owned by the promoters (74.63 per cent) and the rest is owned by the general public (25.37 per cent) as of March 2023.   

From Rs 0.67 per share to Rs 12.50 per share, this stock gave multibagger returns of 1,802.98 per cent in just 2 years. Investors should keep an eye on this micro-cap stock.