200 per cent returns: This multibagger cable manufacturing company receives order worth Rs 13.83 crore from Purvanchal Vidyut Vitran Nigam Limited
The stock gave multibagger returns of over 200 per cent from its 52-week low of Rs 32.50 per share.
V-Marc India Ltd informs that the company has received a Letter of Intent (LOI) worth Rs 13.83 crore from Purvanchal Vidyut Vitran Nigam Limited (PuVVNL). Details of LOI below:
1. Supply of 11KV XLPE Cable 3C×185 sq. mm. for Rs 4,34,82,911.50 (Rupees Four Crores Thirty-Four Lac Eighty-Two Thousand Nine Hundred Eleven and Paisa Fifty Only).
2. Supply of 33KV HT XLPE Cable 3C×300 sq. mm for Rs 9,48,25,508.00 (Rupees Nine Crores Forty-Eight Lac Twenty-Five Thousand Five Hundred Eight Only).
V-Marc India Ltd is in the business of manufacturing and sales of various kinds of wires and cables. The company has been manufacturing wires and cables under the V-MARC brand since 2006.
On Friday, shares of V-Marc India Ltd plunged 2.13 per cent to Rs 99 per share with an intraday high of Rs 101 and an intraday low of Rs 97.60.
Talking about the financials, V-Marc has a market cap of Rs 230 crore. According to the half-yearly results, the net sales increased by 6.40 per cent to Rs 133 crore and net profit increased by 100 per cent to Rs 8 crore in H2FY23 compared to H2FY22. In FY23, the net sales increased by 38 per cent to Rs 247 crore and net profit increased by 100 per cent to Rs 10 crore compared to FY22.
DSIJ's Penny Pick service provides research-backed penny stock recommendations below Rs 100. If this interests you, you can download the service details here.
The shares of the company have a PE of 22x, an ROE of 15.1 per cent and a ROCE of 19.6 per cent. The stock gave multibagger returns of over 200 per cent from its 52-week low of Rs 32.50 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.