Debt-Free Penny Stock Under Rs 10 Rallies 20 Per cent and Hits Upper Circuit Today; Government Holds Stake in the Company!
This microcap company became debt-free in FY24. Government Holds stake in the company as per the Q1 FY25 since March 2018.
Incorporated in 1995, Lypsa Gems and Jewellery Ltd is engaged in three core activities: rough preparation, manufacturing, and polished diamond marketing. Based in Mumbai, the company has affiliates in Antwerp, Dubai, and Moscow. Lypsa has its manufacturing facilities in Navsari and at SurSez, Surat. It is one of the very few diamond companies listed on the Bombay Stock Exchange. Since its inception, Lypsa has specialized in rough preparation and distribution.
At the start of the day's trading session, shares of Lypsa Gems and Jewellery Ltd opened at Rs 6.45 per share, compared to the previous day's closing figure of Rs 6.17 per share on the BSE. Currently, the shares are at Rs 7.40 per share. The stock has rallied 20 per cent today and hit the upper circuit, reflecting strong demand in the market. The company's current market capitalization stands at Rs 21.82 crore.
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As per the Quarterly Results, in the Q1 FY25, Lypsa Gems and Jewellery Ltd recorded a revenue of Rs 1.42 crore compared to Rs 2.42 crore. The operating profit stood at Rs 0.13 crore. The net profit stood at Rs 0.07 crore compared to a profit of Rs 0.01 crore. Looking at the annual performance, the company generated a revenue of Rs 9 crore in FY24. The operating loss for FY24 was Rs 32 crore with a net loss of Rs 33 crore compared to a net loss of Rs 44 crore in FY23.
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According to the shareholding pattern of the company, the promoters hold a significant 36.37 per cent stake. Public investors own 63.38 per cent of the shares, while Government owns 0.24 per cent stake in the company.
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Investors must keep this micro-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.