664 per cent jump in net profit: Heavy buying in this multibagger penny stock under Rs 20; hits 20 per cent upper circuit and 52-week high!

The stock gave multibagger returns of 106 per cent in just 1 year and over 500 per cent in 3 years.

On Wednesday, one of the Top Gainers on BSE, shares of Crane Infrastructure Ltd jumped 20 per cent upper circuit to Rs 16.68 per share from its previous closing of Rs 13.90. The stock also traded at a new 52-week high of Rs 16.68. The shares of the company saw a spurt in volume by more than 7.53 times on BSE.

 Crane Infrastructure Ltd is engaged in the business of real estate and property development. The company announced its Quarterly Results ended June 30, 2023, which was the main reason for the sudden rise in stock price. Here are the details:

Financial Highlights for the Q1FY24: 

• Net sales stood at Rs 2.51 crore, up 865 per cent compared to Q1FY23. 
• Operating profit stood at Rs 1.14 crore, up 613 per cent compared to Q1FY24
• Profit before tax stood at Rs 1.12 crore, up 762 per cent compared to Q1FY23.  
• Profit After Tax of Rs 0.84 crore, up 664 per cent compared to Q1FY23.  
• The EPS for Q1FY24 stood at Rs 1.16 compared to Rs 0.15 in Q1FY23, an increase of 673 per cent.

The company has a market cap of Rs 12.08 crore with a 3-year stock price CAGR of 80 per cent. Additionally, the company has very little debt, with only Rs 0.01 crore outstanding. This is just 0.08 per cent of its current market capitalization, which means that the company is essentially debt-free.

The shares of the company have a PE of 10.8x whereas the industry PE is 30x. The stock is currently trading at 0.43 times its book value of Rs 39.2. The stock gave multibagger returns of 106 per cent in just 1 year and over 500 per cent in 3 years. Investors should keep an eye on this micro-cap stock.

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