15,000 per cent returns in this multibagger penny stock below Rs 50: This small-cap company reports a 191 per cent jump in net profit in Q3FY24
The stock gave multibagger returns of 800 per cent in just 2 years, 1,150 per cent in 3 years & a whopping 15,000 per cent in 3 years.
Today, the stock market started the day in green with the BSE Sensex Index up 0.43 per cent and the NSE Nifty-50 Index up by 0.42 per cent. On the broader market, the indices were also trading in green with the BSE Mid-Cap Index up by 0.53 per cent and the BSE Small-Cap Index up by 0.82 per cent.
Along with the market in green, shares of Hardwyn India Ltd gained 6.67 per cent to Rs 45 per share from its previous closing of Rs 42.20. The stock’s 52-week high is Rs 57.15 and its 52-week low is Rs 17.25.
The company announced Quarterly Results (Q3FY24) and nine-month results (9MFY24) for the financial year 2023 – 2024. According to consolidated quarterly results, the net sales increased by 25 per cent to Rs 39.90 crore and net profit skyrocketed by 191 per cent to Rs 4.31 crore in Q3FY24 compared to Q3FY23. In its standalone nine-month results, the net sales increased by 4 per cent to Rs 98.57 crore and net profit skyrocketed by 22 per cent to Rs 6.46 crore in 9MFY24 compared to 9MFY23.
Hardwyn India Ltd.'s new subsidiary, Slim-X, aims to capture industry demand with its innovative ultra-slim, high-performance aluminium profiles. This wholly-owned subsidiary, backed by Hardwyn's architectural hardware expertise, targets Rs 100 crore in revenue in two years through its aesthetically pleasing, convenient, and long-lasting products, attracting architects, designers, builders, and contractors.
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Hardwyn India Ltd, listed on both BSE and NSE, specializes in manufacturing architectural hardware and glass fittings for residential and commercial structures, providing comprehensive solutions. The company boasts a market capitalization of Rs 1,570 crore.
Earlier, the company implemented a trading phase where ex-bonus shares were traded at a ratio of 1:3 and an ex-stock split took place at a ratio of 10:1 for the equity shareholders based on the record date. The company has set Monday, June 05, 2023, as the fixed record date for both the bonus share and stock split.
The stock gave multibagger returns of 800 per cent in just 2 years, 1,150 per cent in 3 years & a whopping 15,000 per cent in 3 years. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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