Multibagger penny stock under Rs 70: This micro-cap company reports a 210 per cent jump in net profit!

The stock gave multibagger returns of 150 per cent from its 52-week low of Rs 24.10 per share.

On Friday, shares of U.H. Zaveri Ltd surged 9.88 per cent to an intraday high of Rs 60.40 per share. At the closing bell, shares of the company were trading at Rs 56.70 per share, up 3.15 per cent with a spurt in volume by more than 7.84 times on BSE.

The company announced its stellar Quarterly Results and half-yearly results which was the main reason for the increase in stock price. Here are the details:

Quarterly Results: The net sales increased by 127.37 per cent to Rs 4.07 crore, operating profit increased by 105.88 per cent to Rs 0.35 crore and net profit increased by 171.43 per cent to Rs 0.38 crore in Q2FY24 compared to Q2FY23.

Half-yearly Results: The net sales increased by 15.46 per cent to Rs 7.21 crore and operating profit increased by 185.66 per cent to Rs 0.72 crore in H1FY24 compared to H1FY23. The company reported a net profit of Rs 0.64 crore in H1FY24 whereas a net profit of Rs 0.25 crore in H1FY23, an increase of 211 per cent.

According to the annual results, the net sales decreased by 12.86 per cent to Rs 13.89 crore by net profit increased by 60 per cent to Rs 0.83 crore in FY23 compared to FY22. The company is almost debt-free.

U.H. Zaveri Limited produces and distributes jewellery products. The company offers products such as bangles, rings, pendants, necklaces, earrings, chains, nose pins, and bracelets. U.H. Zaveri markets its products in India. The company has a market cap of Rs 57.80 crore.

The stock gave multibagger returns of 150 per cent from its 52-week low of Rs 24.10 per share. Additionally, the stock gave a 656 per cent return in 2 years and a 775 per cent return in 3 years. Investors should keep an eye on this micro-cap stock.

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