Multibagger penny stock below Rs 50: This micro-cap company bags new order worth Rs 3,25,00,000 from Municipal Corporation Gwalior!

The stock is up by 75 per cent in just 6 months and gave multibagger returns of 591 per cent in 1 year.

Latteys Industries Limited informed that the company has received an order of procurement of a truch mounted dry & wet garbage suction machine with operation & maintenance in Gwalior, Madhya Pradesh worth the total amount of Rs 3,25,00,000. The order is received from The Commissioner, Municipal Corporation Gwalior and will be completed within twelve months from the date of the letter of award.

Latteys Industries Limited manufactures pumps and pumping equipment. The company produces pumping solutions for homes, agriculture, and industrial sectors. Latteys Industries serves customers in India. The company has a market cap of Rs 223.66 crore with a 3-year stock price CAGR of 103 per cent.

According to the Quarterly Results, the company reported net sales of Rs 18.10 crore, operating profit of Rs 1.78 crore and net profit of Rs 0.91 crore in Q1FY24. In FY23, the net sales increased by 29 per cent to Rs 52.32 crore and net profit increased by 28 per cent to Rs 1.31 crore compared to FY22.

On Monday, shares of Latteys Industries Ltd plunged 5.01 per cent to Rs 38.90 per share with an intraday high of Rs 41.80 and an intraday low of Rs 38.90. The stock’s 52-week high is Rs 51.90 and its 52-week low is Rs 31.05.
The stock is up by 75 per cent in just 6 months and gave multibagger returns of 591 per cent in 1 year. Investors should keep an eye on this micro-cap stock.

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