Multibagger penny stock under Rs 2 hit back-to-back upper circuits as company’s brewery project makes significant progress in Goa

The stock is up by 92 per cent from its 52-week low of Rs 0.74 per share and gave multibagger returns of 375 per cent in 3 years.

On Thursday, shares of Khoobsurat Limited hit a 5 per cent upper circuit to Rs 1.47 from its previous closing of Rs 1.40 with an intraday high of Rs 1.47 and an intraday low of Rs 1.45. The stock’s 52-week high is Rs 1.63 and its 52-week low is Rs 0.74. At the closing bell, shares of the company saw heavy volumes, up 1.43 per cent to Rs 1.42 per share.

Khoobsurat Ltd. is pleased to announce significant progress on its brewery project located at SA22 & SA-23 Cuncolim Industrial Estate in Goa. The company has achieved several key milestones that demonstrate its commitment to bringing this venture to fruition.

The first major step came on February 9, 2024, when the Goa Industrial Development Corporation (GIDC) issued a registration order for the factory plot in favour of Salcete Brewing Ltd. This was followed by the execution of a Tripartite Lease Deed on February 21, 2024, securing GIDC's consent for the exclusive use of the plot for beer manufacturing. Additionally, the Goa State Pollution Control Board granted its consent to establish the brewery on April 5, 2024, signifying compliance with environmental regulations.

Khoobsurat Ltd. has also secured approval from the Government of Goa's Water Resources Department to drill and register a borewell at the factory site. This crucial step ensures a reliable water source for brewery operations, with the borewell yielding 10,000 litres of water per day at a depth of 85 meters.

The company has further submitted the necessary application to the Excise Inspector of Salcete Taluka for the Establishment License for the Brewery. Following processing at the local excise station and a non-refundable processing fee payment of Rs 20 lakh, the application will be forwarded for further action by higher authorities. Once this payment is made, Khoobsurat Ltd. will proceed with ordering brewery equipment after consultations with vendors and approval from the Board of Directors.

Obtaining the Establishment License is a critical step, as it will allow the company to subsequently apply for the manufacturing license for beer. With the completion of these procedures, Khoobsurat Ltd. anticipates a significant increase in production capacity, ultimately contributing positively to its revenue streams in the coming years. The company remains committed to efficiently advancing this project and is confident that it will have a positive impact on its growth of business.

About the Company

Khoobsurat Limited, established in 1982, specializes in finance and investments. The company's core business involves investing in both listed and unlisted shares and securities, in addition to providing other financial services. The company has a market cap of Rs 67 crore with a 3-year stock price CAGR of 70 per cent.

Quarterly Results: The company reported net sales of Rs 0.32 crore in Q1FY25. The operating profit increased by 482.9 per cent to Rs 0.44 crore and net profit increased by 269.6 per cent to Rs 0.21 crore in Q1FY25 compared to Q1FY24.

Annual Results: The company reported nil sales and net profit of Rs 0.14 crore in FY24 compared to net sales of Rs 0.73 crore and net profit of Rs 0.27 crore in FY23.

As of March 2024, the shareholding pattern of the company is 0.45 per cent and the rest of the stake is owned by public shareholders which is 99.55 per cent. The stock is up by 92 per cent from its 52-week low of Rs 0.74 per share and gave multibagger returns of 375 per cent in 3 years.

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

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