Multibagger penny stock under Rs 5: This micro-cap company reports a 140 per cent jump in net profit; do you own it?
The stock gave multibagger returns of 180 per cent in just 3 years whereas BSE Financial Services Index is up by 85 per cent.
Ashirwad Capital Ltd is engaged in the business of investment, announced its Quarterly Results (Q1FY24) ended June 30, 2023. Details below:
Quarterly comparison - Q1FY24 vs Q1FY23: -
- Revenue from Operations increased by 128.71 per cent from Rs 0.10 crore in Q1FY23 to Rs 0.23 crore in Q1FY24.
- Operating profit increased by 118.63 per cent from Rs 0.10 crore in Q1FY23 to Rs 0.22 crore in Q1FY24.
- Net Profit increased by 140 per cent from a net profit of Rs 0.09 crore in Q1FY23 to a net profit of Rs 0.20 crore in Q1FY24.
Recently, The Board of Directors of the company have recommended and approved the bonus Issue of equity shares in the proportion of 1 equity share of Rs 1 each for every 2 Equity Shares of Rs 1 each held by shareholders of the company as on the record date. The share ex-record date was Wednesday, June 19, 2023.
On Friday, one of the gainers on BSE, shares of Ashirwad Capital Ltd zoomed 5 per cent upper circuit to Rs 3.84 per share from its previous closing of Rs 3.66. The stock has a 52-week high of Rs 5.22 per share and a 52-week low of Rs 2.49 per share.
According to the financials, Ashirwad Capital has a market cap of Rs 23 crore with a 3-year CAGR of 38 per cent. The company is almost debt free. The shares of the company are hitting back-to-back upper circuits in recent trading sessions.
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The stock gave multibagger returns of 180 per cent in just 3 years whereas BSE Financial Services Index is up by 85 per cent. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.