Shares of this metal company locked at 20 per cent upper circuit. Do you own it?
This stock is currently available at a PE multiple of 15.77 and an ROE of 30.06, all of which indicate good management effectiveness.
BSE Metals ended the session 2.27 per cent higher or 446.81 points to Rs 19,689.15. One of the Top Gainers on the BSE today was Pradeep Metals Ltd, which was trading up 19.99 per cent to Rs 152.45.
Pradeep Metals Ltd is engaged in the manufacturing and selling of forged and machined components for various sectors. The company caters to both domestic and international markets. It specializes in automotive components, stainless steel fittings, and general engineering industries.
The company’s quarterly consolidated financial results reveal that the net sales for Q2FY23 increased 32.3 per cent compared to the same quarter last year. Operating profit for Q2FY23 increased to 46.8 per cent when compared to Q2FY22. The net profit soared to Rs 8.24 crore or 64.8 per cent in Q2FY23, contrasted to Rs 5 crore in Q2FY22. According to annual consolidated financial figures, the net sales for Q2FY23 increased 41.54 per cent compared to the same quarter last year. Operating profit for Q2FY23 increased to 44.2 per cent when compared to Q2FY22. In comparison to Q2FY22, when the net profit was only Rs 8.07 crore, it dramatically increased to Rs 19.97 crore or 147.6 per cent, in Q2FY23.
Pradeep Metals Ltd.'s volume has climbed by about 10.86 times as of today, November 11, 2022. Despite a challenging inflationary environment, the company still posted the highest gross margins this quarter; therefore, it has improved its capacity to continue its upward trend in terms of corporate expansion. In the past sessions, the stock price was trading on a flat note but today the company reached its all-time high upper circuit of Rs 152.45. Pradeep Metals is currently available at a PE multiple of 15.77 and an ROE of 30.06, all of which indicate good management effectiveness.
Investors must keep an eye on this stock.