Multibagger Update: Up by 61 per cent in one month, shares of this speciality chemical company, owned by Dolly Khanna, reached an all-time high on August 17!
The shares of this micro-cap company clocked in its all-time high price at Rs 593.10 a piece on BSE on August 17, 2022.
The stock has been witnessing price volume breakouts since the beginning of this month. It has zoomed 59.05 per cent in just one month!
The shares of Tinna Rubber & Infrastructure Ltd also locked in the 10 per cent upper circuit on Wednesday morning.
Tinna Rubber & Infrastructure Ltd is primarily engaged in the conversion of end-of-life tyres (ELT) into crumb rubber and steel wires obtained in the process. The company's product portfolio includes crumb rubber modifier (CRM), crumb rubber modified bitumen (CRMB), polymer modified bitumen (PMB), bitumen emulsion, reclaimed rubber/ultrafine crumb rubber compound, cut wire shots, etc. The products are primarily made from used old tyres along with other materials such as natural asphalt, bitumen, packing materials, and others.
The company recently announced its Quarterly Results for Q1FY23 wherein, its net sales soared 69.58 per cent to Rs 82.13 crore as compared to Rs 48.43 crore in Q1FY22. The net profit also improved and stands at Rs 6.03 crore, recording an increase of 63.21 per cent since the same quarter of the previous year.
Looking at the annual performance of Tinna Rubber & Infrastructure, the company has reported net sales of Rs 237.16 crore for FY22, which increased by 82.34 per cent from last year’s value of Rs 130.07 crore. The operating profit for FY22 stood at Rs 40.32 crore as compared to Rs 19.08 crore for FY21, which has increased by 111.27 per cent. The net profit was at Rs 16.82 crore for FY22 as against a net profit of Rs 1.11 crore for FY21, recording a phenomenal rise of 1,408.7 per cent!
The shares of this multibagger gained 207.52 per cent on a YTD basis and generated returns of 3447 per cent in just two years!
This means that Rs 1 lakh invested in this stock two years ago would have amounted to Rs 35.47 lakh today!
Watch out for this Multi-bagger in the upcoming trading sessions!