52-week high alert in this multibagger stock; This small-cap forging company surged over 10 per cent on June 06
The stock gave multibagger returns of 110 per cent in just 6 months and over 200 per cent in the span of 3 years.
On Tuesday, shares of Balu Forge zoomed 10.84 per cent to make a new 52-week high of Rs 121.70 per share from its previous closing of Rs 109.80. At the closing bell, shares of the company are trading at Rs 119.40 per share, up 8.74 per cent.
According to the financials, Balu Forging has a market cap of Rs 995.38 crore with a 3-year CAGR of 50 per cent. The stock has a ROE of 23 per cent and a ROCE of 27 per cent.
Highlights of Quarterly Results (Q4FY23)
- Revenue from operation stood at Rs 123.78 crore, a growth of 50.42 per cent QoQ.
- Profit Before Depreciation and Tax stood at Rs 20.78 crore, a growth of 53.33 per cent QoQ.
- PAT stood at Rs 15.24 crore, a growth of 43.27 per cent QoQ.
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Highlights of Annual Results (FY23)
- Revenue from operation stood at Rs 326.64 crore, a growth of 14.18 per cent YoY.
- Profit Before Depreciation and Tax stood at Rs 61.10 crore, a growth of 52.21 per cent YoY.
- PAT stood at Rs 38.91 crore, a growth of 30.39 per cent YoY.
Balu Forge Industries Ltd is engaged in the manufacturing of fully finished and semi-finished forged crankshafts and forged components. The shares of the company saw a spurt in volume by more than 1.82 times on BSE.
The increase in share price was due to the substantial acquisition of shares and takeover by ‘TANO INVESTMENT OPPORTUNITIES FUND’ and ‘ECOTEK GENERAL TRADING L.L.C’ and hence is witnessing some fresh buying.
The stock gave multibagger returns of 110 per cent in just 6 months and over 200 per cent in the span of 3 years. Investors should keep an eye on this Small-Cap stock.