Dolly Khanna-Backed Exploration Stock Hits Upper Circuit with Heavy Volumes; Announces 260 per cent PAT Growth in Q1 FY25, FIIs and DIIs Bought Stake!
The company’s shares have delivered a multibagger return of over 400 per cent in the last 2 years.
Incorporated in 1985, it is engaged in oil and gas exploration and production in India. It was among the first companies to secure development rights for three discovered oilfields in Gujarat: Bakrol, Lohar, and Karjisan, all with proven oil and gas reserves.
Selan Exploration Technology Ltd (SETL) operates in the crude oil and natural gas segments. Its crude oil is sold to refineries, while its natural gas is consumed by local industries located around its fields. Crude oil prices are benchmarked to global markets, and gas prices are benchmarked to the Government of India-notified domestic gas prices.
At the start of the day's trading session, the stock opened at Rs 854.05 per share, compared to the previous day's closing figure of Rs 764 per share on the BSE. As of the time of writing this article, the shares are currently at Rs 916.80 per share. The stock has hit the upper circuit, reflecting strong demand in the market. The company's current market capitalization stands at Rs 1393.54 crore, and the stock has generated an impressive multibagger return of over 140 per cent in the past 1 year.
As per the Quarterly Results, in Q1 FY25, Selan Exploration Technology Ltd recorded a revenue of Rs 63 crore. The operating profit for Q1 FY25 stood at Rs 23 crore. The net profit for Q1 FY25 was Rs 18 crore representing a gain of 260 per cent YoY compared to a profit of Rs 5 crore. Looking at the annual performance, the company generated a revenue of Rs 166 crore in FY24, compared to Rs 118 crore in FY23. The operating profit for FY24 was Rs 39 crore with a net profit of Rs 33 crore.
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According to the shareholding pattern of Selan Exploration Technology Ltd, promoters own a 30.46 per cent stake, while public investors hold 64.41 per cent. Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) hold 5.02 per cent and 0.12 per cent stakes, respectively. In the most recent quarterly update, FIIs have increased their stake, whereas DIIs have bought after 8 quarters.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.