Multibagger penny stock under Rs 40: This small-cap iron & steel company bags order worth Rs 37 crore; reports impressive quarterly results!

Shares of the company gained more than 140 per cent in the last six months.

Welspun Specialty Solutions Limited informed in the exchange filing that it has bagged an order worth Rs 37 crore for a supply of Stainless-steel bars from a domestic customer. The order is expected to be executed by the end of October 2023.

Furthermore, the company declared the results for Q1FY24, the company reported a revenue of Rs 162.83 crore which grew by 99.16 per cent YoY. The operating profit of the company stood at Rs 23.30 crore, growing 2887.18 per cent YoY while the PAT of the company stood at Rs 11.14 crore from a loss of 7.96 crores in Q1FY23.

Shares of Welspun Specialty Solutions have given multibagger returns during the last one year. The company's shares jumped from Rs 16.60 on August 16, 2022, to Rs 37.03 on August 11, 2023, an increase of about 129 per cent in one year holding period.

Welspun Specialty Solutions Limited is the flagship company of the Welspun group. Welspun Specialty Solutions is a welded pipe manufacturing company engaged in offering solutions in line pipes, with a capacity to manufacture longitudinal submerged arc welded, spiral helical submerged arc welded pipes, and electrical resistance welded pipes.

The company is one of the dominant players in the steel line pipe business, with an established track record of over two decades and demonstrated capabilities in the supply of line pipes for complex projects in the oil and gas as well as water segments.

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