Penny stock under Rs 50: Company’s net profit surged by 251 per cent in Q4 FY24; stock rallied 20 per cent and hit upper circuit, and trading at a 24 per cent discount!

Company posted robust growth in its sales, operating profits, and net profit in Q4 FY24, check the complete details inside.

Raw Edge Industrial Solutions is involved in both the trading and manufacturing of minerals, along with providing transportation services.

The company posted brilliant Quarterly Results. The revenue of the company for Q4 FY24 stood at Rs 13.12 crore, which grew by 18.30 per cent YoY. The operating profit of the company stood at Rs 1.72 crore with an operating profit margin of 13.11 per cent, while the net profit of the company stood at Rs 0.58 crore compared to a loss of Rs 0.38 crore same quarter last year, representing an impressive growth of 251 per cent YoY.

Over the last decade, the size of the company's balance sheet has experienced substantial growth, increasing from Rs 4.14 crore to Rs 53.98 crore, indicating a remarkable growth of 1200 percent.

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Today the company’s stocks closed the day at Rs 42.93 per share representing a gain of 19.98 per cent. The current market capitalisation of this company stands at Rs 43.18 crore.

Shares of this micro-cap company Raw Edge Industrial Solutions have delivered impressive returns of around 25 per cent in the past month only. Additionally, while the company's stock has not yet yielded multibagger returns, it's worth noting that Penny Stocks possess significant potential to generate multibagger returns in the future.

Raw Edge Industrial Solutions Limited stands out as a premier manufacturer and supplier, offering a diverse range of high-quality products including Hydrated Lime, Calcined Lime, Dolomite, AAC grade Lime, Quartz, Gypsum, and more. Renowned for delivering superior quality goods at highly competitive prices, the company has earned a reputation for excellence. The company was incorporated in 2005.

Investors must keep this stock on their radar.