150 per cent from its 52-week low: This multibagger micro-cap company bags new orders worth Rs 52,34,00,000 from International & Domestic Customers
The stock gave multibagger returns of over 150 per cent from its 52-week low of Rs 313.50 per share.
Vinyas Innovative Technologies Limited announced that it has secured significant purchase orders, totalling Rs 52.34 crore, from both domestic and international customers. These orders are distributed across various entities, both within India and abroad, and are expected to be executed within a 12-month timeframe. The total value of the contracts underscores the company's growing market presence and strong customer relationships. Importantly, these orders are not from related parties and adhere to the standard terms and conditions that Vinyas Innovative Technologies Limited typically accepts for such business engagements.
Earlier this year, the company had already secured purchase orders worth Rs 49.22 crores from a diverse range of domestic and international customers. These orders were also subject to standard terms and conditions and were expected to be completed according to the specific timelines outlined in the purchase orders. The consistent influx of orders demonstrates the company's ability to attract and retain a loyal customer base, solidifying its position in the market.
About the Company
Incorporated in 2001, Vinyas Innovative Technologies Limited provides design, engineering, and electronics manufacturing services catering to global OEM and ODM manufacturers in the electronic Industry.
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The company has a market cap of Rs 971 crore. According to half-yearly results, the net sales increased by 20.72 per cent to Rs 137.25 per share and net profit increased by 86.7 per cent to Rs 5.64 crore in H1FY24 compared to H1FY23. In its annual results, the net sales increased by 13 per cent to Rs 235 per share and net profit increased by 600 per cent to Rs 7 crore in FY23 compared to FY22.
On Monday, shares of Vinyas Innovative Technologies Ltd plunged 2.17 per cent to Rs 772 per share with an intraday high of Rs 809 and an intraday low of Rs 770. The shares of the company have an ROE of 20 per cent and an ROCE of 18 per cent. The stock gave multibagger returns of over 150 per cent from its 52-week low of Rs 313.50 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.