Multibagger Penny Stock under Rs 100, This micro-cap company bagged orders worth more than its market capitalization; generated a multibagger return of 1070 per cent!
Impressively, the stock has yielded substantial returns of 440 per cent in the last three years
Southern Magnesium & Chemicals Ltd, a prominent player in magnesium metal manufacturing, has achieved yet another milestone in its journey. Since its inception in 1985, the company has consistently upheld its commitment to excellence.
Recently, a significant feather was added to its cap as the company secured a substantial order for the supply of Magnesium Powder, with an estimated contract value of Rs. 28.80 crores, speaking volumes about the company's reputation and product quality.
Observing the market capitalization of the company, which is just Rs. 26.87 crore, the order amount surpasses its market capitalization. The order is slated for delivery within the next 12 to 15 months, as per the latest exchange filing.
Also, check: This company bagged orders from both HPCL and BPCL
An examination of the company's financials reveals a decline in revenue from Rs. 2.93 crore to Rs. 1.38 crore in Q1 FY24. The company's operating profit stands at Rs. 0.64 crore with a margin of 46 percent. In the June quarter of FY24, the net profit amounted to Rs. 0.48 crore.
As of last Friday's close, the company's shares concluded at Rs. 89.55 on the BSE, with a current market capitalization of Rs. 26.87 crore.
Impressively, the stock has yielded substantial returns of 153 per cent in the past year and an astonishing 440 percent over three years. Moreover, the stock has delivered an astounding 1070 per cent return to investors over the past five years.
Investors must keep a close watch on this stock.
Also, check Buy-Back announced by this multibagger company.
Disclaimer: This article is for informational purposes only and not investment advice.