Multibagger stock at Rs 85 & promoters increase stake: This auto ancillary company receives order worth EURO 31,582.08 from Carraro Drive Tech Italia Spa
The stock is up by 40 per cent from its 52-week low of Rs 60.2 per share and gave multibagger returns of over Rs 300 per cent in just 3 years.
Kranti Industries Ltd informed that the company has received the purchase order (PO) vide order number 4500469437 from Carraro Drive Tech Italia Spa. The order includes Carraro Group's general purchasing conditions to supply components named as beam trumpet, amounting to the sum of the PO value of EURO 31,582.08. The order is by the international entity and will be executed on or before May 15, 2024.
Kranti Industries Limited produces and distributes metal products. The company offers axle, transmission, automotive, and other parts and components. Kranti Industries serves customers worldwide.
Talking about the financials, Kranti Industries has a market cap of Rs 92.85 crore with a 3-year stock price CAGR of 70 per cent. In its Quarterly Results, the net sales decreased by 1.4 per cent to Rs 21.31 crore in Q3FY24 compared to Q3FY23. The company reported a net loss of Rs 0.99 crore in Q3FY24 compared to a net profit of Rs 0.39 crore in Q3FY23. In FY23, the net sales decreased by 0.44 per cent to Rs 93.24 crore however net profit skyrocketed by 135 per cent to Rs 5.22 crore compared to FY22.
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According to the shareholding pattern, the promoters of the company own a 68.89 per cent stake in the company and the rest 31.10 per cent stake is owned by the public with a total of 3,640 shareholders as of December 2023. In comparison to September 2023, the promoters bought 3,880 shares or 0.03 per cent stake in the company.
On Friday, shares of Kranti Industries Ltd surged 1 per cent to Rs 81.37 per share with an intraday high of Rs 84.87 per share and an intraday low of Rs 80 per share. The stock is up by 40 per cent from its 52-week low of Rs 60.2 per share and gave multibagger returns of over Rs 300 per cent in just 3 years.
Disclaimer: The article is for informational purposes only and not investment advice.
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