High ROE & High ROCE Multibagger Stock: This mid-cap company delivers robust profit growth; declares stellar dividend!

The stock gave multibagger returns of 371 per cent in just 3 years.

Today, one of the Top Gainers on BSE, shares of Ratnamani Metals & Tubes Ltd surged 11.45 per cent to an intraday high of Rs 2,501.15. At 03:30 pm, shares of the company were trading in the green, up 6.26 per cent to Rs 2,384.80 per share.   

The sudden increase in the stock price is due to the fantastic results reported by the company in its Quarterly Results and annual results. The net sales rose by 54 per cent and the net profit skyrocketed 117 per cent in Q4FY23 over Q4FY22. In FY23, net sales rose by 43 per cent and net profit rose by 59 per cent over FY21.   

Additionally, the company has declared a 600 per cent dividend or Rs 12 per equity share having a face value of Rs 2 each. The company has been maintaining a healthy dividend payout of 20.20 per cent.  

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Ratnamani Metals & Tubes Ltd is engaged in the manufacturing of stainless-steel pipes and tubes and carbon steel pipes from its manufacturing facilities in India. The shares of the company saw a spurt in volume by more than 21.28 times on BSE.   

The stock has a ROE of 25 per cent and a ROCE of 28 per cent. The stock gave multibagger returns of 371 per cent in just 3 years. Investors should keep an eye on this mid-cap stock.