Low PE & high ROE multibagger stock: Heavy buying witnessed in this stock as the company reports 571 per cent jump in net profit!

The stock gave multibagger returns of 125 per cent in just 6 months and over 350 per cent in 1 year.

On Friday, one of the Top Gainers on BSE, shares of Loyal Equipments Ltd hit 5 per cent upper circuit to Rs 152.60 per share from its previous Rs 145.35. In the recent trading sessions, the stock is hitting back-to-back upper circuits.

The company announced stellar Quarterly Results and half-yearly results for the fiscal year 2024. Here are the details:

Quarterly Results: According to standalone results, the net sales increased by 125.45 per cent to Rs 26.09 crore and net profit increased by 103.53 per cent to Rs 3.57 crore in Q2FY24 compared to Q2FY23. According to consolidated results, the net sales decreased by 14.86 per cent to Rs 11.57 crore in Q2FY24 compared to Q2FY23 and the company reported a net profit of Rs 1.84 crore in Q2FY24 compared to a net loss of Rs 1.02 crore in Q2FY23.

Half-yearly Results: According to standalone results, the net sales increased by 79.64 per cent to Rs 30.09 crore and net profit increased by 571.49 per cent to Rs 1.67 crore in H1FY24 compared to H1FY23. According to consolidated results, the net sales decreased by 17 per cent to Rs 16.75 crore in H1FY24 compared to H1FY23 and the company reported a net profit of Rs 0.24 crore in H2FY24 compared to a net loss of Rs 2.39 crore in H1FY23.

Loyal Equipments Limited designs and manufactures coded pressure vessels and heat exchangers. The Company offers ferrous and non-ferrous coded pressure vessels, air-cooled heat exchanges, base-plates, and tanks. Loyal Equipments serves customers worldwide.

The stock gave multibagger returns of 125 per cent in just 6 months and over 350 per cent in 1 year. Investors should keep an eye on this micro-cap stock.

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