140 per cent jump in net profit: This small-cap multibagger company announces robust Q1FY24 results!
On Monday, shares of the company surged by more than 17 per cent and reached at its 52-week high of Rs 855.
ZF Steering Gear (India) is a leading manufacturer and supplier in India, specializing in Ball and Nut Integral Hydraulic Power and Worm and Roller Mechanical Steering Systems. They boast state-of-the-art technology for designing and manufacturing Power Steering Systems and Mechanical Steering Systems, tailored to meet the specific requirements of their customers. The company is dedicated to expanding its product range to keep up with the growing demands of the automotive market and is open to diversifying into suitable product lines.
ZF Steering Gear (India) Ltd recently announced their Q1FY24 results in which sales of the company surged by 10 per cent and stood at Rs 121 crore as compared to Q1FY23 while operating profit remained the same at 18 crore as compared to Q1FY23. Similarly, net profit of the company jumped by 140 per cent and stood at Rs 12 crore as against to Q1FY23.
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Furthermore, during the meeting held on April 29, 2023, the Company's Board of Directors proposed a dividend of Rs 5 per equity share of Rs 10 each for the Financial Year 2022-23.
The company has delivered returns of 64 per cent over the past year and stellar returns of 194 per cent over the past 3 years. Moreover, the company has a ROCE of 8.53 per cent and a ROE of 6.25 per cent.
On Monday, shares of the company surged by more than 17 per cent and reached at its 52-week high of Rs 855. Additionally, the stock had a spurt in volume by more than 8.14 times.
Investors should keep a close eye on this trending smallcap stock.