Low PE penny stock under Rs 25: This micro-cap company launches new products and receives multiple orders from various clients!

The shares of the company have PE of 12.2x whereas the industry PE is 31.3x.

Jiwanram Sheoduttrai Industries Ltd announced that the company has introduced the production of a new kind of glove known as the Mechanical Gloves; which is the first of its kind in India. The annual requirement of these gloves shows very high numbers as the same is used during construction as well as by oil drilling companies.

The basic suppliers of mechanical gloves in the global market are Pakistan, China and Vietnam to name a few. The Company aspires to enter the market with the production of these gloves and thereby become a pioneer in the field. The Company has already pitched the item to new industrial groups and has thereby received bulk orders for the same. The orders received should be completed as soon as possible.

Additionally,the company informed that it has received new orders of garments and gloves from various clients. The said receipt of the above order would enhance the customer base and would contribute towards the profitability of the company. The orders received will be completed within the next 90 to 120 days.

Jiwanram Sheoduttrai Industries Limited manufactures and exports industrial safety gloves and garments. The company offers head-to-toe safety wear, work wear, casual wear, and personal protective equipment such as protective gloves, full-bodysuits, safety boots, elbow protectors, safety spectacles, and welding shields. Jiwanram Sheoduttrai Industries serves customers worldwide.

On Wednesday, shares of Jiwanram Sheoduttrai Industries Limited plunged 9.50 per cent to Rs 19.95 per share from its previous closing of Rs 22.05 per share. The stock’s 52-week high is Rs 30 and its 52-week low is Rs 19.

The company has a market cap of Rs 50 crore. According to the annual results, the net sales increased by 24.2 per cent to Rs 42.32 crore and the net profit skyrocketed by 168.7 per cent to Rs 4.03 crore in FY23 compared to FY22.

The shares of the company have PE of 12.2x whereas the industry PE is 31.3x. Investors should keep an eye on this micro-cap stock.

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