Heavy buying: Back-to-back upper circuit in this small-cap multibagger stock; hits fresh 52-week high!

In FY23, the company reported a 41.5 per cent increase in net sales YoY.

Shares of Kirloskar Electric Company Limited were locked in the upper circuit on Friday, gaining 5.00 per cent. The stock also made a fresh 52-week high of Rs 127.25. In the last six months, the stock has gained about 90 per cent.

The company posted mixed results in FY23. The revenue of the company stood at Rs 473.55 crore which grew by 41.5 per cent YoY. The operating profit of the company stood at Rs 58.56 crore, while the PAT of the company stood at Rs 31.08 crore, which declined by 53.88 per cent YoY.

Kirloskar Electric Company Limited has also delivered multibagger returns to its shareholders. During this period, the company’s share price jumped from Rs 24.90 on June 30, 2022, to Rs 127.00 on June 30, 2023, an increase of about 390 per cent in a one-year holding period. And in the last six months, the stock has gained about 90 per cent.

Kirloskar Electric Company Limited is an electrical engineering company that produces AC Motors, DC Motors, Transformers, Switchgear and Electronics through nine manufacturing units. It caters to core sectors like power generation, transmission and distribution, transportation, renewable energy, sugar, steel, cement, and allied industries.

The stock has shown tremendous growth, and investors should keep a close eye on this stock.