Multibagger in just 3 months and 59 per cent jump in net profit; Board announces bonus shares!

The stock gave multibagger returns of 250 per cent in just 3 months whereas BSE Sensex Index is down by 2 per cent.

Alphalogic Industries Ltd announced its stellar half-yearly results (H1FY24) for the fiscal year 2024 and bonus update. Here are the details:

Half-yearly Results: The net sales increased by 220.2 per cent to Rs 19.73 crore, operating profit increased by 45.64 per cent to Rs 1.67 crore and net profit increased by 59 per cent to Rs 1.11 crore in H1FY24 compared to H1FY23.

Bonus Update: The company recommended issuance of fully paid-up bonus shares in the ratio of 1:1 i.e., 1 equity share for every 1 fully paid-up equity share of Rs 10 each. The fixed the record date for the bonus issue of shares as Friday, November 24, 2023.

Annual Results: The net sales increased by 130 per cent to Rs 18.02 crore, operating profit increased by 338 per cent to Rs 3.20 crore and net profit increased by 606 per cent to Rs 2.19 crore in FY23 compared to FY22

Alphalogic Industries is engaged in the design, manufacturing, supply and installation of industrial and institutional storage systems i.e., compactor storage systems, heavy-duty storage racks, cantilever racks, lockers, mezzanine floors, metal pallets and crates. The company has a market cap of Rs 175 crore.

Earlier, the company won orders worth Rs 101,79,437 from various clients. The first order worth Rs 71,10,257 is from Scootsy Logistics Private Limited, a subsidiary of Swiggy. This order includes the design, manufacture, supply, and installation of a storage racking system within this month. The second order worth Rs 30,69,180 is from Trinity Engineers Private Limited. This order includes the design, manufacture, supply, and installation of MS pallet and storage rack solutions within this quarter.

On Thursday, shares of Alphalogic Industries Ltd hit a 5 per cent lower circuit to Rs 326.10 per share from its previous closing of Rs 343.25. The stock’s 52-week high is Rs 368 and its 52-week low is Rs 95.60.

The shares of the company were listed on BSE on Friday, July 14, 2023, at Rs 96.29 per share as an S&P BSE SME IPO with a lot size of 1,200 shares. The stock has an ROE of 84.4 per cent and an ROCE of 63 per cent.

The stock gave multibagger returns of 250 per cent in just 3 months whereas BSE Sensex Index is down by 2 per cent. Investors should keep an eye on this micro-cap stock.

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