Textile penny stock under Rs 30 hit upper circuit after announcing stellar results; PAT jumps over 550 per cent
The stock is up by 77 per cent from its 52-week low of Rs 14.57 per share and gave multibagger returns of 5,500 per cent in 3 years.
Today in the pre-opening session, shares of Lorenzini Apparels Ltd surged 5 per cent upper circuit to Rs 25.81 per share from its previous closing of Rs 24.59 per share. The stock’s 52-week high is Rs 35.90 while its 52-week low is Rs 14.57.
Lorenzini Apparels Ltd., established in 2007, designs, manufactures, and markets ready-made garments for men and women through their own "Monteil" brand, offering formal, semi-formal, and casual wear, both in their exclusive stores and online, while also utilising third-party contractors for some garment production. The company has a market cap of over Rs 400 crore.
According to the Quarterly Results, the total income increased by 62 per cent to Rs 27.99 crore and net profit increased by 554 per cent to Rs 12.17 crore in Q2FY25 compared to Q1FY25. In its half-yearly results, the total income increased by 38 per cent to Rs 45.24 crore and net profit increased by 438 per cent to Rs 14.03 crore in H1FY25 compared to H1FY24. Looking at the annual results, the net sales increased by 24 per cent to Rs 54.76 crore and net profit skyrocketed by 110 per cent to Rs 5.30 crore in FY24 over FY23.
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As of September 2024, the promoters of the company own 57.07 per cent; FIIs own 0.02 per cent and rest 42.91 per cent stake is owned by the public shareholders. The stock is up by 77 per cent from its 52-week low of Rs 14.57 per share and gave multibagger returns of 5,500 per cent 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.