Multibagger penny stock under Rs 70: This micro-cap company partners with Cadchem Laboratories Ltd & reports stellar Q1FY25 results!
The stock gave multibagger returns of over 100 per cent in just 3 months and a whopping 200 per cent in 1 year.
Emerald Finance Limited is offering its Early-Wage-Access program to employees of Cadchem Laboratories Limited, a company that develops and manufactures niche Active Pharmaceutical Ingredients (APIs) and their intermediates. This partnership aims to provide financial relief to Cadchem employees by allowing them to access a portion of their salary early and conveniently throughout the month. This program aligns with Emerald Finance's vision of expanding its offerings and serving a wider range of retail customers. By partnering with employers like Cadchem, Emerald Finance can provide short-term salary advances to employees, with the loaned amount being repaid through payroll deductions.
About the Company
Emerald Finance Limited, established in 1983, is a New Delhi-based NBFC specializing in micro, small, and medium enterprise financing, as well as retail customer loans. This RBI-registered company generates income through commissions, interest, and dividends. It focuses on existing clients, syndicating large loans through financial institutions and conducting rigorous vetting processes for loans exceeding 5 lakhs, assessing financials, past performance, and promoter credibility.
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On Thursday, shares of Emerald Finance Ltd were locked in a 5 per cent upper circuit to Rs 69.35 from its previous closing of Rs 66.05. The stock also made a fresh 52-week high is Rs 69.35 and its 52-week low is Rs 18.05. The company has a market cap of over Rs 200 crore and shares saw a spurt in volume by more than 1.40 times on BSE.
According to Quarterly Results, the net sales increased by 58.2 per cent to Rs 4.40 crore and net profit increased by 98.9 per cent to Rs 1.71 crore in Q1FY25 compared to Q1FY24. In its annual results, the net sales increased by 15.8 per cent to Rs 13.33 crore and net profit increased by 20 per cent to Rs 4.14 crore in FY24 over FY23. The stock gave multibagger returns of over 100 per cent in just 3 months and a whopping 200 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.
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