550 per cent multibagger returns in just 1 year: This power transmission company's PAT skyrocketed by 12,250 per cent in FY24, stock reached 52-week high and hits upper circuit today!
The company's shares have delivered an impressive return of over 250 per cent to their shareholders in just 6 months only.
GE T&D is the listed entity of GE’s Grid Solutions business in India. With over 100 years of experience, it has established itself in the power transmission and distribution sector. The company offers a diverse range of solutions aimed at efficiently connecting and evacuating power from generation sources onto the grid. The company announced a robust financial performance.
Financial Performance:
As per the Quarterly Results in the fourth quarter of FY24, the company recorded remarkable growth in sales, reaching Rs 913.6 crore compared to Rs 703.05 crore in Q4 FY23, marking a significant increase of 29.95 per cent. For the full fiscal year FY24, sales amounted to Rs 3167.91 crore, showing a notable growth of 14.23 per cent compared to FY23's figure of Rs 2773.22 crore. Profit after tax (PAT) also saw substantial improvement in Q4 FY24, standing at Rs 66.29 crore, a significant rise from the previous year's loss of Rs 15.35 crore. The FY24 PAT soared to Rs 531.86 crore, showing a staggering growth of 12251.01 per cent compared to FY23's figure of Rs 181.05 crore.
Share Performance:
On Wednesday, the company closed at around Rs 1422.50 per share and hit an upper circuit of 5 per cent, with a market capitalisation of Rs 36,422 crore. Additionally, the stock has delivered a multibagger return of around 251 per cent in the past 6 months.
According to the shareholding pattern of the company, promoters hold 75 per cent of the company while FIIs and DIIs hold 1.20 per cent and 15.84 per cent as per the recent update.
Investors must keep this Small-Cap stock on their radar
Disclaimer: The article is for informational purposes only and not investment advice.
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