1,800 per cent returns in this multibagger penny stock under Rs 5: This micro-cap company signs MoU with drone company in Tanzania!

In FY23, the net sales increased by 1,879 per cent to Rs 24.74 crore and net profit increased by 265 per cent to Rs 1.46 crore compared to FY22.

Vivanta Industries Limited (VIL) has entered into an in-principle Memorandum of Understanding (MoU) with Vivanta Drone Research Centre Tanzania Limited (VDRCTL) for the following purposes:

· Research & development of drones.

· Training & development of drones.

· Setting up the assembly line.

Vivanta Industries Limited (VIL) acquired 50 per cent equity shares of Vivanta Drone Research Centre Tanzania Limited.

Additionally, the Bombay Stock Exchange (BSE), has granted the approval for the trading of 2,50,00,000 bonus shares of face value of Rs 1 each issued and allotted by VIL.

Today, shares of Vivanta Industries Ltd gained 0.60 per cent to Rs 5.07 per share from its previous closing of Rs 5.03. The shares of the company saw a spurt in volume by more than 1.14 times on BSE.

Vivanta Industries Limited (VIL) provides engineering services. The company offers land survey and procurement, project designing, fiscal studies, funding, and marketing services. Talking about the financials, this civil construction company has a market cap of Rs 62 crore.

Furthermore, according to the Quarterly Results, the company reported net sales of Rs 14.08 crore. The operating profit skyrocketed by 792.50 per cent to Rs 0.36 crore and net profit skyrocketed by 1,034.48 per cent to Rs 0.33 crore in Q1FY24 compared to Q1FY23. In FY23, the net sales increased by 1,879 per cent to Rs 24.74 crore and net profit increased by 265 per cent to Rs 1.46 crore compared to FY22.

The stock gave investors a multibagger return of 130 per cent in just 1 year, 280 per cent in 2 years and a whopping 1,800 per cent in 3 years.

Disclaimer: The article is for informational purposes only and not investment advice.