Multibagger penny stock at Rs 54.67 & Promoter sold 75,000 shares: This electric equipment company reports a 41,967 per cent jump in PAT

The stock gave multibagger returns of 217 per cent in 1 year and over 5,200 per cent in 3 years.

Today, shares of MIC Electronics Ltd hit a 5 per cent upper circuit to Rs 54.67 per share from its previous closing of Rs 52.07 with a spurt in volume by more than 2.07 times on BSE. The stock’s 52-week high is Rs 55.81 and its 52-week low is Rs 15.83. In the recent trading sessions, the stock has been hitting back-to-back upper circuits.  

MIC Electronics Ltd., founded in 1988, is a leading manufacturer of LED displays (indoor, outdoor, mobile), lighting solutions (indoor, outdoor, solar), telecom equipment, and software. They also produce medical equipment like oxygen concentrators and batteries. Headquartered in India, MIC exports its products globally and has a presence in the USA, Australia, UK, and other countries.

According to standalone Quarterly Results, the net sales increased by 674.7 per cent to Rs 22.96 crore and net profit increased by 1,941.6 per cent to Rs 49.59 crore in Q4FY24 compared to Q4FY23. In its standalone annual results, the net sales increased by 826.3 per cent to Rs 54.58 crore and net profit increased by 41,967.3 per cent to Rs 61.84 crore in FY24 compared to FY23.

Additionally, MIC Electronics Limited informed you that the Board took note of the incorporation of M/s SOA Electronics Trading LLC, a wholly owned subsidiary of MIC Electronics Limited in Dubai, UAE.

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MIC Electronics Limited has received a Letter of Acceptance worth Rs. 1.47 crore from the Malda Division of the Eastern Railway Zone to replace CIB, TIB of PF No. 1, 4 & 5 and improve passenger amenities at Bhagalpur Station. The work order will be executed within a year. Neither the promoters nor their group companies have any stake in the awarding entity and the transaction is at arm's length.

In March 2024, one of the promoters sold 75,000 and decreased its stake to 7.38 per cent compared to 7.42 per cent in March 2023. MIC Electronics has a market cap of over Rs 1,200 crore with a 3-year stock price CAGR of 273 per cent. The stock gave multibagger returns of 217 per cent in 1 year and over 5,200 per cent in 3 years. Investors should keep an eye on this stock.

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