2,100 per cent jump in net profit: This micro-cap multibagger company reports robust Q1FY24 results!
The company has delivered returns of 212 per cent over the past year and returns of 407 per cent over the past 3 years.
International Combustion (India) Limited is a company involved in the production and distribution of various equipment, including Vibrating Screens and Feeders, Cone Crushers, Bulk Material Handling Equipment, Mining haulages, Raymond Grinding Mills, Air Classifiers and Flash Drying systems, as well as Geared Motors and Gear Boxes. The company operates manufacturing facilities in Nagpur, Kolkata, Aurangabad, and Ajmer.
On July 25, 2023, International Combustion (India) Ltd announced their robust Q1FY24 results in which sales of the company grew by 60.5 per cent and stood at Rs 68.8 crore as compared to Q1FY23 while operating profit of the company surged by 554 per cent to Rs 11 crore as compared to Q1FY23. Similarly net profit of the company surged by 2,100 per cent and stood at Rs 5.72 crore as against to Q1FY23.
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Furthermore, the company has been able to grow its sales by 22 per cent (CAGR) for the past 3 years and net profit has grown by 94 per cent (CAGR) over the same period.
The company has delivered returns of 212 per cent over the past year and returns of 407 per cent over the past 3 years. Additionally, the company has a ROCE of 13 per cent and a ROE of 8.51 per cent.
On Tuesday, shares of the company surged by 5 per cent and reached its upper circuit limit of Rs 808.30.
Investors should keep a close eye on this trending microcap stock.
Disclaimer: The article is for informational purposes only and not investment advice.