1,200 per cent returns: This multibagger micro-cap company reports a 220 per cent jump in net profit; stock hits upper circuit!

The stock gave multibagger returns of 170 per cent in just 1 year whereas BSE Sensex Index is up by 23.67 per cent.

On Friday, shares of AKI India Ltd jumped 5 per cent upper circuit to Rs 23.43 per share from its previous closing of Rs 22.32 per share. At the closing bell, shares of the company were trading at Rs 23 per share with a spurt in volume by more than 5.43 times on BSE.

The sudden rise in the stock price is due to the company announcing its stellar Quarterly Results. Details below:

According to the standalone quarterly results (Q1FY24), the net sales increased by 11.35 per cent to Rs 13.20 crore and net profit skyrocketed 220 per cent to Rs 0.32 crore in Q1FY24 over Q1FY23. According to the consolidated quarterly results (Q1FY24), the net sales increased by 21.52 per cent to Rs 14.40 crore and net profit skyrocketed 220 per cent to Rs 0.32 crore in Q1FY24 over Q1FY23.

AKI India Limited designs and manufactures leather products. The Company produces and markets nags, belts, rugs, head collars, equestrian sports, horse covers, leather footwear, and finished products. AKI India serves customers worldwide. The company has a market cap of Rs 154 crore with a 3-year stock price CAGR of 136 per cent.

The stock gave multibagger returns of 170 per cent in just 1 year whereas BSE Sensex Index is up by 23.67 per cent. Additionally, it yielded extraordinary returns of over 1,200 per cent within a span of two years.