Rs 1,400 crore order book & 52-week high alert: Heavy buying in this multibagger small-cap stock; PAT zooms 880 per cent!
The stock gave multibagger returns of 230 per cent in just 1 year whereas BSE Small-cap Index is up by 38.4 per cent.
The Indian stock market witnessed a positive trading session on December 6, 2023, with both the BSE Sensex and NSE Nifty-50 indices closing at new record highs.
Along with the market in green, shares of Man Industries Ltd zoomed 8.5 per cent to an intraday high and 52-week high of Rs 274 per share from its previous closing of Rs 252.5. At the closing bell, shares of the company were trading at Rs 271.4 per share, up 7.46 per cent with a spurt in volume by more than 1.35 times on BSE.
The company allotment of 25,00,000 warrants convertible into an equal number of equity shares having a face value of Rs 5 each at an issue price of Rs.183.50 per warrant to Man Finance Private Limited (Promoter Group).
According to the Quarterly Results, the net sales increased by 119 per cent to Rs 1,018 crore and net profit increased by 880 per cent to Rs 39 crore in Q2FY24 over Q2FY23. In its annual results, the net sales increased by 4 per cent to Rs 2,231 crore and net profit decreased by 33 per cent to Rs 68 crore in FY23 over FY22. The current unexecuted order book as of today stands at Rs 1400 crore which will be executed within the next 6 months.
Man Industries Ltd. is one of the largest Manufacturers and Exporters of LSAW and HSAW pipes in India with a total installed capacity of 1 million tonnes. The company is among the leading manufacturers of large-diameter pipes with 3 decades of presence in the pipe industry
Man Industries has a market cap of Rs 1,630 crore with a 3-year CAGR of 55 per cent. The stock has a PE of 14.5x whereas the sectoral PE is 28x. The stock gave multibagger returns of 230 per cent in just 1 year whereas BSE Small-Cap Index is up by 38.4 per cent. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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