This 72.8 per cent ROE and 2.94x PE small-cap stock surged 15.32 per cent ahead of getting listed on NSE; do you have it?

This small-cap textile stock caters to clients like Zara, H&M, IKEA, Jockey, etc.

On August 23, Sportking India Limited is among the Top Gainers as the shares of the company closed at Rs 1054.7, up by 15.32 per cent from its previous close of Rs 914.6. 

Sportking India Limited saw a surge in its stock price as the market reacted positively to the news regarding the company getting listed on NSE. Currently, the stock is only listed on BSE. 

The shares of the company will start trading on NSE from tomorrow i.e. August 24, 2022, under the ticker “SPORTKING”.

Sportking India Limited is involved in the business of manufacturing Yarns (Cotton Yarn, Synthetic Yarn, Blended Yarn), fabrics and garments. Zara, Jockey, IKEA, and H&M are a few of its clients.

As per FY22, about 43.4 per cent of the total revenue comes from the export market, while the rest 56.6 per cent is contributed by domestic sales. 

The company has an ROE and ROCE of 72.8 per cent and 76.4 per cent, respectively, as per FY22 period ending. 

Regarding the shareholding pattern, 74.15 per cent of the stake is owned by the promoters, while the rest 25.85 per cent is in the hands of non-institutional investors. 

The company has a market capitalisation of Rs 1382 crore and is trading at a low TTM PE multiple of 2.94x.