Under Rs 20: Turnaround Story - Company Posts Profits After 3 Years of Losses; Stock Hits Back-to-Back Upper Circuit for Last 6 Days; Must Watch

Under Rs 20: Turnaround Story - Company Posts Profits After 3 Years of Losses; Stock Hits Back-to-Back Upper Circuit for Last 6 Days; Must Watch

Rakesh Deshmukh

The company posted its highest-ever revenue in FY24 with a net profit after back-to-back losses in the past 3 years.

This micro-cap company is engaged in the business of Management Consultancy and Project Execution Services in the power sector. The company was incorporated in 1998. Today, the company experienced a significant surge in its share price.

At the start of the day's trading session, the stock opened at Rs 15.17 per share, compared to the previous day's closing figure of Rs 14.45 per share on the BSE. Furthermore, the stock has been hitting the upper circuit for the past 6 days and hit its 52-week high too. Finally, it closed the day at Rs 15.17 per share on the BSE.  The current market capitalization of Sharika Enterprises stands at Rs 65.69 crore, and the stock has generated an impressive multibagger return of around 110 per cent in the past 1 year.

Also read 9,200 per cent Multibagger Return in Just 1 Year: Solar Stock Under Rs 200 Hits Upper Circuit; Promoter Holding Spiked from 0.01 per cent to 94.97 per cent in FY24

As per the Quarterly Results in Q4 FY24, the company reported a revenue of Rs 29.36 crore compared to a revenue of Rs 21.39 crore, representing a growth of 37 per cent YoY. The company’s operating profit reached Rs 8.74 crore compared to a profit of Rs 1.97 crore in Q4 FY23. The operating margin stood at 30 per cent. The net profit of the company was Rs 7.71 crore in Q4 FY24 compared to a net profit of Rs 1.38 crore representing a gain of 459 per cent. Turning your attention to the annual performance of the company, it reported a revenue of Rs 78.42 crore, compared to Rs 50.37 crore in FY23. The company reported a net profit of Rs 1.53 crore representing a gain of 146 per cent YoY compared to a loss of Rs 3.32 crore in FY23.

Investors must keep this multibagger penny stock on their radar.

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

DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.

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