140 per cent jump in net profit: This micro-cap company reports robust Q1FY24 results!
On Wednesday, shares of the company surged by 5 per cent and reached its upper circuit of Rs 85.71.
Radix Industries was initially engaged in bottling and supplying LPG for domestic and commercial use, the company was acquired by the promoters of Arqube Industries (India) Limited in 2011. After the acquisition, its business focus shifted from gas storage and marketing to exporting human hair, wigs, and related products. The product portfolio includes Remy human hair in various styles and colors, categorized into the Virgin Collection, Clip Collection and Eminent Collection, catering to diverse customer requirements.
On July 25, 2023, Radix Industries announced their stelar Q1FY24 results in which sales of the company has surged by 142 per cent and stood at Rs 7.11 crore as compared to Q1FY23, while operating profit of the company has grown by 86 per cent to Rs 0.69 crore as against to Q1FY23. Similarly, net profit of the company has surged by 142 per cent and stood at Rs 0.46 crore as against to Q1FY23. Furthermore, the company has been able to grow its sales by 35 per cent (CAGR) for the past 3 year and net profit of the company has grown by 9 per cent (CAGR) for the same period.
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The company has delivered returns of 70 per cent over the past year and returns of 40 per cent over the past 3 years. Moreover, the company has a ROCE of 9.79 per cent and a ROE of 8.4 per cent.
On Wednesday, shares of the company surged by 5 per cent and reached its upper circuit of Rs 85.71.
Investors should keep a close eye on this trending stock.