209 per cent jump in net profit: This multibagger jewellery stock hits 52-week high after the company announces stellar quarterly results (Q1FY24)!

The stock has soared by 95 per cent in just 1 year, 150 per cent in 2 years, and over 600 per cent in 3 years.

On Tuesday, shares of Thangamayil Jewellery Ltd gain 15.77 per cent to make a new 52-week high of Rs 1,163.75 per share from its previous closing of Rs 1,005.25. At the closing bell, shares of the company ended the day in green, up 3.52 per cent to Rs 1,040.65 per share with a spurt in volume by more than 4.33 times on BSE.

The sudden rise in the stock price was due to the company announcing stellar Quarterly Results (Q1FY24). Details below:

According to the quarterly results, the net sales increased by 16.18 per cent to Rs 960.10 crore, the operating profit skyrocketed by 155.78 per cent to Rs 92.44 crore and the net profit skyrocketed by 209 per cent to Rs 58.61 crore in Q1FY24 compared to Q1FY23.

According to the annual results, the net sales increased by 43.79 per cent to Rs 3,155.90 crore, the operating profit increased by 77.84 per cent to Rs 156.25 crore and the net profit skyrocketed by 106.85 per cent to Rs 79.74 crore in FY23 compared to FY22.

Additionally, the company announced bonus shares in the ratio of 1:1 and declared a final dividend of 60 per cent or Rs 6 per share of Rs 10 each. The ex-dividend date for the company's dividend was June 27, 2023, and the ex-bonus date was July 17, 2023.

Thangamayil Jewellery Ltd designs and manufactures jewels. The company distributes and sells gold and silver necklaces, bangles, earrings, rings, chains, and anklets, as well as vessels, sculptures, tumblers, and other gifts.

The stock has soared by 95 per cent in just 1 year, 150 per cent in 2 years, and over 600 per cent in 3 years. Investors should keep an eye on this multibagger Small-Cap gems & jewellery stock.

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