Rs 10,100 crore order book: Shares of this multibagger company soar 6 per cent on outstanding results; declares stellar dividend!
The stock has delivered multibagger returns of 105 from its 52-week low of Rs 78.45 per share and over 150 per cent growth in 3 years.
Welspun Enterprises Limited (WEL), formerly known as Welspun Projects Ltd., is a part of the USD 2.70 billion Welspun Group. The company has announced its quarterly and annual results for the year ending March 31, 2023. Here are the details:
Quarterly Results: The net sales increased by 77.46 per cent, and the net profit increased by 114.29 per cent with an EPS of Rs 9.43 in Q4FY23 compared to Q4FY22.
Annual Results: The net sales increased by 105.48 per cent, while the net profit decreased by 463.75 per cent with an EPS of Rs 48.19 in FY23 compared to FY22.
The company's current order book stands at Rs 10,100 crore as of March 31, 2023, providing strong visibility for revenue growth. Additionally, the company has declared a dividend of Rs 8.50 per share, which includes a special dividend of Rs 7.50 and a final dividend of Rs 1.
DSIJ offers a product 'Tiny Treasure' with recommendations for Small-Cap & micro-cap stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the product details pdf here
On Friday, shares of WEL surged 6 per cent to Rs 159.60 per share from its previous closing of Rs 150.50. However, by the end of the day, the shares closed in the red, down 0.50 per cent to Rs 149.75 per share. The shares of the company saw a spurt in volume by more than 1.17 times.
The stock has delivered multibagger returns of 105 from its 52-week low of Rs 78.45 per share and over 150 per cent growth in 3 years. Investors are advised to keep an eye on this small-cap stock.