2,500 per cent jump in net profit: Turnaround story in this multibagger penny stock at Rs 22.80 & promoters bought 30,59,786 shares in FY24

The stock gave multibagger returns of 227 per cent from its 52-week low of Rs 10 per share.

Today, one of the gainers on BSE, shares of LKP Securities Ltd surged 3.10 per cent to Rs 22.80 per share from its previous closing of Rs 22.20. The stock’s 52-week high is Rs 28.50 and its 52-week low is Rs 10.

The company announced a turnaround story with stellar Quarterly Results and annual results. Here are the details:

Standalone Results: The company's financial performance for Q4FY24 showed a significant improvement compared to Q4FY23. Net sales jumped by 91.8 per cent to Rs 32.43 crore from Rs 16.91 crore, and even more impressive was the turnaround in net profit, which surged by 1,360 per cent to Rs 5.67 crore, compared to a net loss of Rs 0.45 crore in the previous year's corresponding quarter. Looking at the annual results, the company continued its positive trajectory with a 25 per cent increase in net sales to Rs 96.18 crore and a 200.6 per cent growth in net profit to Rs 9.50 crore in FY24 compared to FY23.

Consolidated Results: The company's financial performance in Q4FY24 showed significant improvement year-over-year with net sales jumping 88.6 per cent to Rs 32.78 crore from Rs 17.38 crore, and a turnaround from a net loss of Rs 0.23 crore in Q4FY23 to a net profit of Rs 5.57 crore, a massive 2,522 per cent increase. Looking at the annual results, the company's net sales for FY24 rose by 24.4 per cent to Rs 97.35 crore, and net profit grew by 154.7 per cent to Rs 9.50 crore compared to FY23.

LKP Securities Ltd, established in 1948, is a financial services company offering stock and securities broking along with other financial products. They provide research-based equity advisory and trading services like equities, debt, structured products, portfolio management services, and third-party distribution to a wide range of clients including individuals, corporations, and retail investors. The company boasts a broad reach across India with a presence in over 150 cities.

In FY24, the promoters of the company bought 30,59,786 shares and increased their stake to 71.60 per cent compared to 70.70 per cent in FY23. The company has a market cap of Rs 176 crore with a PE of 20x, an ROE of 13 per cent and an ROCE of 20 per cent. The stock gave multibagger returns of 227 per cent from its 52-week low of Rs 10 per share.

Disclaimer: The article is for informational purposes only and not investment advice.