Low PE multibagger stock: This micro-cap company receives order worth Rs 2.28 crore for supplies of 2 VMC machines from Heavy Vehicles Factory!
The stock gave multibagger returns of 275 per cent in just 3 years.
Macpower CNC Machines Ltd informed that the delegation from Heavy Vehicles Factory is a Heavy Engineering Industry -Avadi, Chennai, and a 4-member team visited the company’s Rajkot Premises, for inspection of their ordered two heavy and Advance-specification vertical machining centres (VMC) with a rotary table.
They inspected both the accuracy and quality of the machines for their use in the T-90 Tank Modernization, which was successfully completed, cleared, and approved, for dispatch with a value of Rs 2.28 crore for two Machines in August 2023.
With the help of the above supply, to date, a total of 34 machines have been installed at the Heavy Vehicle Factory, Avadi Chennai, for the T-72, (Ajeya) T-90S (Bhishma), MBT Arjun tank project. Similar machines were already installed in different organizations in India, like ISRO (Indian Space Research Organization), DRDO (Defence Research and Development Organization), GCF (Gun Carriage Factory), RFI (Rifle Factory, Ishapore) and many more.
Additionally, the Board of Directors of the company have approved a final dividend of 15 per cent or Rs 1.50 per share for a face value of Rs 10 each. The shares of the company have a PE of 21.6x whereas the industry PE is 42.8x.
Macpower CNC Machines Limited is engaged in the manufacture of computerized numerically controlled (CNC) machines and lathe machines. The company has a market cap of over Rs 250 crore. The company reported positive numbers in its Quarterly Results and annual results.
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On Monday, shares of Macpower CNC Machines plunged 0.61 per cent to Rs 269.65 per share with an intraday high of Rs 276.80 and an intraday low of Rs 264.25. The stock gave multibagger returns of 275 per cent in just 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.