This small-cap multibagger company reported a 165 per cent net profit growth in Q3FY24; take a look!
The shares, which have yielded multibagger returns of over 145 per cent in the past year, are currently trading 15 per cent below their 52-week high
Indian benchmark indices ended Friday's trading session on a positive note, with broader indices significantly outperforming the main indices. Particularly notable gains were observed in the auto, capital goods, and IT sectors. Amidst the ongoing corporate earnings season, approximately 60 per cent of companies have reported positive profit growth to date. Leading the charts in terms of gains were stocks from the banking, financial services, capital markets, and auto sectors.
Investors were drawn to companies showcasing robust financial performances and witnessed a strong rally in their respective stocks due to heightened optimism. Responsive Industries Ltd, a Small-Cap multibagger company, likewise rode the wave of this trend.
Despite marginal growth in revenue to Rs 267.27 crore in Q3FY24, Responsive Industries Ltd witnessed an impressive year-on-year surge in net profit, climbing by 165 per cent from Rs 16.82 crore to Rs 44.71 crore.
Shares of Responsive Industries Ltd surged over 12 per cent in the past month, delivering multibagger returns of more than 145 per cent over the last year. Having reached a 52-week high of Rs 364.80 per share on the BSE, they are currently trading at Rs 309.65, reflecting a 15 per cent decrease from their peak.
Responsive Industries Ltd is a prominent manufacturer of PVC products, boasting three main product verticals including vinyl flooring, synthetic leather, and luxury vinyl tile. The company serves 25 different end-user industries and has established a global presence across 65 countries worldwide.
Click here to comprehend the company’s primary growth catalysts, leading strategic objectives for the future, and the outlook gleaned from an interaction with the company’s CEO.
Disclaimer: The article is for informational purposes only and not investment advice
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