Rs 120 crore order received: Multibagger small-cap service industry stock hits back-to-back 52-week high; do you own it?
The stock has given multibagger returns of more than 125 per cent in just 3 years
On Tuesday, the shares of Signet Industries Limited are trading in green at Rs 52.09 per share on BSE, with a fresh 52-week high of Rs 52.09 per share on BSE. The scrip witnessed a massive spurt in volume by more than 4.05 times.
Signet Industries Limited announced the receipt of new order of Rs 120 crore, recently from various EFC contractors
These orders are for pipes in water supply projects in the state of Madhya Pradesh, Uttar Pradesh, Orissa, Rajasthan, Maharashtra, etc. Supplies for these orders will play a very vital role and have added one more mile stone in the growth of the company.
The company is involved in the merchant trading of all kinds of polymers and other products, as well as the manufacturing of Micro Irrigation System (DRIP), Sprinkler Pipe / PVC Pipe & Agro fittings and its allied products, as well as all forms of household and plastic moulded furniture.
The consolidated financial results of Signet Industries Ltd for Q4FY23 reported total sales of Rs 312.52 crore and witnessed a surge of 0.44 per cent YoY basis from last year same quarter. In similar fashion, EBITDA levels witnessed a hike of 16.28 per cent from corresponding quarter last year to Rs 20.42 crore. The PAT (profit after tax) increased by 58.59 per cent from March 2022 quarter to report Rs 4.52 crore.
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Correspondingly, consolidated financial statements for FY23 reported its total sales at Rs 1,018 crore, up by 16.07 per cent over FY22. EBITDA level stood at Rs 69 crore, witnessing a spike of 11.29 per cent compared to previous year. Net profit of the company is up by 62.5 per cent, as compared to FY22 to Rs 13 crore.
The stock has witnessed significant buying activity as it has given returns of more than 35 per cent in just 1 year moreover the stock has zoomed more than 125 per cent in last 3 years. Investors must keep a close eye on this Small-Cap Trading & Distributors stock.