870 per cent returns: Heavy buying witnessed in this multibagger small-cap stock; Do you own it?
The scrip witnessed massive spurt in volume by more than 1.7 times
On Tuesday, shares of AXISCADES Technologies zoomed and got locked at 5 per cent upper circuit at Rs 511.45 apiece on BSE. The scrip witnessed massive spurt in volume by more than 1.7 times.
In Q1FY24, the company’s surged by 16.6 per cent from last year’s same quarter to Rs 213.6 crore. The EBITDA of the company zoomed more than 45 per cent from Q1FY23 to Rs 33 crore. The net profit of the company stood at Rs 5.7 crore, as against a net loss of Rs 31.7 crore in Q1FY23.
In the early stages of fiscal year 2024, the company has accomplished two notable milestones. Firstly, there has been a successful cross-border acquisition of add solution GmbH. This strategic move is anticipated to serve as a substantial catalyst for growth within the automotive segment. Additionally, a successful debt refinancing initiative has been undertaken, leading to a reduction in interest expenditures and an optimization of the company's overall capital structure. As a result, the company's financial foundation has been bolstered considerably.
Throughout this quarter, the aerospace vertical has exhibited remarkable growth, contributing significantly to the company's overall performance. Concurrently, the company has continued to expand its market share within the defence sector, which has made a substantial contribution to the top-line revenue. The positive momentum of the newly established business ventures remains evident.
The company is filled with enthusiasm for the array of opportunities that lie on the horizon. Leveraging increased financial flexibility, the company is well-positioned to execute its strategic objectives with enhanced effectiveness. This, in turn, will lead to the creation of value for all stakeholders involved.
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AXISCADES Technologies is a leading, end to end technology and engineering solutions provider aiding creation of innovative, sustainable and safer products worldwide. The solutions comprehensive portfolio covers the complete product development lifecycle from concept evaluation to manufacturing support and certification for Fortune 500 Companies in the aerospace, defence, heavy engineering, automotive, medical devices & industrial product industries.
The stock has witnessed significant buying activity as it has given multibagger returns of more than 870 per cent in just 3 years. Moreover, the stock has zoomed more than 300 per cent in just 1 year. Keep a close eye on this trending multibagger stock.
Disclaimer: The article is for informational purposes only and not investment advice.