Under Rs 30: This Multibagger Company's Latest Move Expected to Boost PAT by Rs 5,00,00,000, Stock Gains Over 290 per cent in Just 1 Year!
The company’s shares have delivered a return of around 880 per cent in the past 5 years.
Incorporated in 2012, the company specializes in manufacturing carbon steel forged flanges, forged components, and other automotive parts. The Board of Directors has announced a significant step towards growth and cost savings with the decision to install a 4.80 MW solar power plant. This initiative costs approximately Rs 15 crore.
The solar power project is expected to be completed within the next 6 months and will substantially reduce the company’s power consumption costs. This reduction in energy expenses is anticipated to contribute an additional profit after tax (PAT) of around Rs 5 crore starting next year. Furthermore, the project qualifies for government subsidies, enhancing cost savings and ensuring a swift return on investment. This move underscores the company's commitment to environmental sustainability and financial efficiency.
At the start of the day's trading session, the stock of Tirupati Forge Ltd opened at Rs 26.69 per share, compared to the previous day's closing figure of Rs 27.24 per share on the NSE. Finally, the shares closed at Rs 26.69 per share. The company's current market capitalization stands at Rs 276.72 crore, and the stock has generated an impressive multibagger return of over 290 per cent in the past 1 year.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
As per the Quarterly Results, in Q4 FY24, Tirupati Forge Ltd recorded a revenue of Rs 33.11 crore. The operating profit for Q4 FY24 stood at Rs 3.49 crore. The net profit for Q4 FY24 was Rs 1.92 crore. Looking at the annual performance, the company generated a revenue of Rs 110 crore in FY24, compared to Rs 92 crore in FY23. The operating profit for FY24 was Rs 13 crore with a net profit of Rs 7 crore.
Investors must keep this micro-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.