Multibagger in just 6 months: This company received additional work order worth Rs 16.50 crore from DCI!
The stock generated multibagger returns of 329.75 per cent in just 6 months and 661.75 per cent in 1 year.
Today, shares of Knowledge Marine & Engineering Works Ltd (KMEW) surged 12.75 per cent and reached a new 52-week high of Rs 1,146.35 apiece. The stock generated multibagger returns of 329.75 per cent in just 6 months and 661.75 per cent in 1 year.
The company received an order worth Rs 67.85 crore in May 2022 from the Dredging Corporation of India (DCI) for its Mangrol fishing harbour facility for capital dredging in hard rock. As of December 30, 2022, 52 per cent of the ongoing work is complete. KMEW has received an additional work order of Rs 16.50 crore under the same original contract DCI.
Knowledge Marine & Engineering Works Ltd is primarily involved in the owning, chartering/hiring, operation and technical maintenance of marine crafts, as well as repairs/maintenance of marine crafts, marine infrastructure and allied works in India. Today, shares of KMEW saw a spurt in volume by more than 3.44 times on BSE.
Talking about the financials, the firm has reported excellent results in its half-yearly and annual consolidated financial statements. In FY22 when the net profit was only 6.83 crore, it skyrocketed to Rs 20.87 crore, up by 205.49 per cent. The stock has an ROE of 56.12 per cent and a ROCE of 51.81 per cent with a market cap of Rs 1040.69 crore. Investors should keep an eye on this multibagger stock.