Low PE & high ROE multibagger shipping stock under Rs 10 was locked in the upper circuit & hit 52-week high on July 26
The stock made a fresh 52-week high is Rs 6.80 per share and gave multibagger returns of 182 per cent from its 52-week low of Rs 2.41 per share.
On Friday, shares of Seacoast Shipping Services Limited hit 5 per cent to Rs 6.80 per share from its previous closing of Rs 6.48. The shares of the company saw a spurt in volume by more than 4 times on BSE. The stock has a PE of 10.8x, an ROE of 26 per cent and an ROCE of 28 per cent. The stock made a fresh 52-week high is Rs 6.80 per share and gave multibagger returns of 182 per cent from its 52-week low of Rs 2.41 per share.
Seacoast Shipping Services Ltd (SSSL), established in 2005, is a leading logistics provider in Gujarat, India, specializing in dry bulk logistics, container freight forwarding, and inland road logistics. They have grown into one of the largest freight forwarders in the state and are among the top 3 for handling agricultural exports in containers from Mundra port. Annually, SSSL facilitates the transportation of over 5 million metric tons of bulk and unitized cargo across the globe.
Recently, the Board of Directors raised Rs 49 crore by issuing new Re 1 face-value shares to existing shareholders through a rights issue offering. The Record date for the rights issue was July 13, 2024.
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Talking about the financials, the company has a market cap of over Rs 300 crore. According to its Quarterly Results, the net sales increased by 8.25 per cent to Rs 125.02 crore and net profit skyrocketed by 518 per cent to Rs 7.50 crore in Q4FY24 over Q4FY23. In its annual results, the net sales decreased by 13 per cent to Rs 374.16 crore and the net profit increased by 42 per cent to Rs 20.29 crore in FY24 over FY23.
The promoter of the company - Manishkumar Raichand Shah sold 14,98,10,518 shares and decreased the total promoter holding to 0.04 per cent in June 2024 compared to 44.55 per cent in June 2023. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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