Penny stock at Rs 23.47 gave multibagger returns of 140 per cent in just 1 month; Reports Turnaround story & over 400 per cent jump in PAT

The stock gave multibagger returns of 140 per cent in just 1 month and 329 per cent from its 52-week low of Rs 5.47 per share.

Sharika Enterprises Ltd is a seasoned power sector expert with a legacy of expertise in transmission and distribution. The company envisions leading a transformative shift towards a 'Smart Grid' future, fuelled by innovation, cutting-edge technologies, and sustainability. Their significant focus extends to the solar power sector, with a proven track record of successful solar PV project implementations in collaboration with government bodies, PSUs, schools, and the private sector. Sharika Enterprises offers a comprehensive suite of solar solutions, including grid-connected and off-grid systems, hybrid solutions, battery energy storage, EV charging systems, microgrids, real-time monitoring, and solar streetlights.

According to Quarterly Results, the net sales increased by 37.23 per cent to Rs 29.36 crore and net profit increased by 459 per cent to Rs 7.71 in Q4FY24 compared to Q4FY23. In its annual results, the net sales increased by 55.71 per cent to Rs 78.42 crore in FY24 compared to FY23. The company reported a net profit of Rs 1.54 crore in FY24 compared to a net loss of Rs 3.32 per cent in FY23, an increase of 146.4 per cent.

Also Read: Multibagger EV-charger manufacturing company enters strategic partnership with Hubject; Aims to fuel further growth in India’s booming EV market

Earlier, the company was awarded a turnkey project by U.P. Power Transmission Corporation Limited (UPPTCL) for supplying and erecting outdoor equipment for two 145 KV Bays at a 400 KV substation located at Rasara, Ballia in Uttar Pradesh. This domestic project valued at Rs 2,94,65,496 needs to be completed within 6 months from the date of award.

Today, shares of Sharika Enterprises Ltd were locked in a 5 per cent upper circuit to Rs 23.47 per share from its previous closing of Rs 22.36. The stock also made a fresh 52-week high of Rs 23.47 and its 52-week low is Rs 5.47. In the recent trading sessions, the stock has been hitting back-to-back upper circuits and 52-week highs.

The company has a market cap of over Rs 100 crore. The stock gave multibagger returns of 140 per cent in just 1 month and 329 per cent from its 52-week low of Rs 5.47 per share. Investors should keep an eye on this micro-cap stock.

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