Multibagger stock under Rs 30: This iron & steel company receives order worth Rs 13.65 crore!
The stock has delivered multibagger returns, with a 66 per cent increase in 1 year, 222 per cent in three years, and a whopping 1,300 per cent in a decade.
Welspun Specialty Solutions Ltd informed the exchange (BSE Scrip Code: 500365) that the company has received an order valued at Rs 13.65 crore for the supply of stainless-steel Bars from a domestic customer, an unrelated party. The said order is expected to be executed by the end of August 2023.
The Company has received the said order in the normal course of business. The said transaction is not falling under related party transactions and is done on an arm’s length basis.
Welspun Specialty Solutions is engaged in the business of manufacturing alloy, stainless steel & its products such as seamless tubes & rolled products and hence the entire turnover is from alloy and SS steel & its products.
The company has a market cap of over Rs 1,500 crore with a 3-year stock price CAGR of 48 per cent. According to the Quarterly Results, the net sales increased by 63.19 per cent to Rs 137.80 crore and net profit skyrocketed by 309.14 per cent to Rs 8.06 crore in Q4FY23 compared to Q4FY22. In FY23, the net sales skyrocketed by 157 per cent to Rs 418 crore compared to FY22.
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As of June 2023, the promoters own the majority of the company's shares, with a 55.17 per cent stake. FIIs own a tiny fraction of the shares, at just 0.02 per cent. The remaining 44.81 per cent of the shares are owned by the general public.
The stock has delivered multibagger returns, with a 66 per cent increase in 1 year, 222 per cent in three years, and a whopping 1,300 per cent in a decade. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.