Heavy buying: Back-to-back upper circuit in this micro-cap multibagger stock; Net profit zooms by 101 per cent YoY!

Shares of the company have gained more than 140 per cent in the last one year.

Shares of Sky Gold Limited were locked in the upper circuit on Thursday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last two-three days. Hence, the stock is locked in the upper circuit. While in the last six months, the stock has given negative returns of 2 per cent.

The company posted strong Quarterly Results. The revenue of the company for Q1FY24 stood at Rs 375.70 crore which grew by 20.14 per cent YoY. The operating profit of the company stood at Rs 19.45 crore, while the PAT of the company stood at Rs 10.67 crore, representing an impressive growth of 101.76 per cent YoY.

Sky Gold Limited has also delivered multibagger returns to its shareholders in the last one year. During this period, the company’s share price jumped from Rs 123.45 on August 17, 2022, to Rs 301.05 on August 17, 2023, an increase of about 141 per cent in one year holding period. 

Sky Gold Limited is engaged in the business of designing, manufacturing, and marketing gold jewellery. The company follows a B2B model where the products are mainly sold to mid-range jewellers and boutique stores who sell these products through online platforms and retail stores.

The top 10 customers contribute 70 per cent of the revenue, and the company is expecting 30 per cent growth from them. The company has an online presence in the USA & Australia and has just launched aggressive marketing for it. Investors should keep a close eye on this stock.

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