Multibagger stock under Rs 100 hits 20 per cent upper circuit as the company reports a 120 per cent jump in net profit!

The stock is up by 58.85 per cent in just 2 years and gave multibagger returns of 268.59 per cent in 3 years.

On Thursday, one of the Top Gainers on BSE, shares of Artson Engineering Ltd jumped 20 per cent upper circuit to Rs 99.52 per share from its previous closing of Rs 82.94. The shares of the company saw a spurt in volume by more than 6.86 times on BSE.

The sudden rise in the stock price is due to the company reporting fantastic numbers on its Quarterly Results (Q1FY24). Details below:

• Net sales increased by 12 per cent to Rs 41.89 crore in Q1FY24 over Q1FY23.
• Operating profit increased by 336 per cent to Rs 3.91 crore in Q1FY24 over Q1FY23.
• Net profit increased by 120 per cent to Rs1.03 crore in Q1FY24 over Q1FY23.
• The EPS for Q1FY24 stood at Rs 1.12. s

Artson Engineering is an EMC contracting company founded in 1978 in Hyderabad. It provides services in pressure equipment manufacturing, bulk liquid storage farms, industrial piping, etc.

In the previous quarter of the year, Artson Engineering received orders for the supply of pressure vessels and erection and commissioning spare worth Rs 14.49 crore. In January 2023, the company also received an order for engineering equipment installation and commissioning works at GRSE worth Rs 17.16 crore. These orders are a testament to the company's expertise in the engineering and construction sector.

The stock is up by 58.85 per cent in just 2 years and gave multibagger returns of 268.59 per cent in 3 years. Investors should keep an eye on this micro-cap stock under the radar.