14,000 Per Cent Returns: Multibagger Penny Stock Under Rs 100 Hit 5 Per Cent Upper Circuit; Here’s Why
The stock gave multibagger returns of 140 per cent in 1 year, 7,000 per cent in 3 years and a whopping 14,000 per cent in 5 years.
Today on NSE, the shares of MIC Electronics Ltd hit a 5 per cent upper circuit to Rs 95.18 per share from its previous closing of Rs 90.65. The stock’s 52-week high is Rs 114.74 while its 52-week low is Rs 31.95.
MIC Electronics Limited has announced the incorporation of its wholly owned subsidiary, MICK Digital India Limited (WOS), on November 8, 2024. The WOS has been established with an authorized capital of Rs. 10 lakh and a paid-up capital of Rs 5 lakh.
The WOS is a related party of the Company, and the subscription of shares to the WOS is at an arm's length price. The WOS aims to engage in a diverse range of businesses, including manufacturing, selling, and servicing smart meters, digital meters, electronic components, computer software and hardware, and lithium-ion batteries. Additionally, the WOS will focus on renewable energy generation and storage, including solar and wind energy.
By establishing this wholly owned subsidiary, MIC Electronics Limited seeks to expand its operations, diversify its revenue streams, and capitalize on emerging opportunities in the technology and renewable energy sectors.
MIC Electronics Ltd., founded in 1988, is a leading manufacturer of LED displays (indoor, outdoor, mobile), lighting solutions (indoor, outdoor, solar), telecom equipment and software. They also produce medical equipment like oxygen concentrators and batteries. Headquartered in India, MIC exports its products globally and has a presence in the USA, Australia, UK and other countries.
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According to Quarterly Results, the net sales increased by 53 per cent to Rs 10.71 crore and net profit increased by 59 per cent to Rs 1.97 crore in Q1FY25 compared to Q1FY24. In its standalone annual results, the net sales increased by 826.3 per cent to Rs 54.58 crore and net profit increased by 41,967.3 per cent to Rs 61.84 crore in FY24 compared to FY23. Looking at the consolidated annual results, the company reported net sales of Rs 22.91 crore and net profit of Rs 0.26 crore in FY24.
MIC Electronics has a market cap of over Rs 2,200 crore and has delivered good profit growth of 32.1 per cent CAGR over the last 5 years with an ROE of 61 per cent. The stock gave multibagger returns of 140 per cent in 1 year, 7,000 per cent in 3 years and a whopping 14,000 per cent in 5 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.