Dark Horse Stock of the Day: Ashish Kacholia-Backed Multibagger Defence Company Rallied and Hits Upper Circuit Today!
The company’s shares have delivered impressive multibagger returns of around 300 per cent in just 1 year.
This small-cap company is in heavy engineering and project execution and boasts a diversified portfolio across key sectors. Specializing in EPC (Engineering, Procurement, and Construction) and turnkey projects, the company excels in hi-tech manufacturing, engineering products, and engineering services. It undertakes projects and provides machinery and equipment in critical areas such as nuclear power, aerospace, missile defense, oil & gas, steam generation plants, independent power projects, and turnkey solutions for cement and sugar plants. Today the company saw a significant spike in share price and volumes.
Today, the shares of Walchandnagar Industries Ltd are trading at Rs 399.60 per share rallied around 5 per cent, and hit the upper circuit. Additionally, the shares have delivered a multibagger return of around 300 per cent in the past 1 year.
The company recently repaid its outstanding loan balance of Rs 20.92 crores (from an original loan amount of Rs 62 crores) on July 19, 2024. Consequently, the Restructuring Agreement dated May 18, 2023, with Assets Care and Reconstruction Enterprise Ltd (ACRE), acting as trustee of ACRE-120 Trust, is now terminated. The Company received a No Dues Certificate from the Lender on July 25, 2024, confirming the repayment.
As per the Quarterly Results, in the fourth quarter of FY24, Walchandnagar Industries Ltd recorded a revenue of Rs 91.38 crore. The operating profit for Q4 FY24 stood at Rs 5.26 crore. The net loss for Q4 FY24 was Rs 3.60 crore. Looking at the annual performance, the company generated a revenue of Rs 302 crore in FY24, compared to Rs 322 crore in FY23. The operating profit for FY24 was Rs 1 crore, with a net loss of Rs 42 crore.
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Regarding the shareholding pattern of Walchandnagar Industries Ltd, the promoters own 31.55 per cent of the company and the public or retail investors hold 67.92 per cent. FIIs and DIIs hold 0.35 per cent and 0.15 per cent respectively. Ashish Kacholia owns a 3.17 per cent stake in the company.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.