2,200 per cent returns in this multibagger penny stock below Rs 10: This micro-cap company reports a 71 per cent jump in net profit!

The stock gave multibagger returns of 165 per cent in just 1 year, 645 per cent in 2 years and a whopping 2,200 per cent in 5 years.

Kenvi Jewels Ltd announced its Quarterly Results and half-yearly results for the fiscal year 2024. Here are the details:

Quarterly Results: The net sales increased by 35.25 per cent to Rs 2,716.02 lakh, profit before tax increased by 57.17 per cent to Rs 14.46 lakh and net profit increased by 71 per cent to Rs 11.46 lakh in Q2FY24 compared to Q2FY23.

Half-yearly Results: The net sales increased by 40.89 per cent to Rs 5,317.71 lakh, profit before tax increased by 56.82 per cent to Rs 38.86 lakh and net profit increased by 61.66 per cent to Rs 30.36 lakh in H1FY24 compared to H1FY23.

According to the annual results, the net sales increased by 32.04 per cent to Rs 88.26 crore, profit before tax increased by 34.86 per cent to Rs 0.74 crore and net profit increased by 32.11 per cent to Rs 0.54 crore in FY23 compared to FY22.

On Monday, one of the Top Gainers on BSE, shares of Kenvi Jewels Ltd hit a 5 per cent upper circuit to Rs 8.85 per share from its previous closing of Rs 8.43. The stock has a 52-week high of Rs 15.70 and a 52-week low of Rs 3.04.

On May 19, 2023, the shares of the company traded ex-bonus with a ratio of 1:4 and ex-split, reducing the face value from Rs 10 per share to Rs 1 per share.

Incorporated in 2002, Kenvi Jewels is in the business of manufacturing, wholesaling and retailing jewellery. The designing of jewellery is done in-house which is manufactured at its manufacturing unit. Kenvi Jewels has a market cap of Rs 110 crore. The shares of the company saw a spurt in volume by more than 2.49 times on BSE.

The stock gave multibagger returns of 165 per cent in just 1 year, 645 per cent in 2 years and a whopping 2,200 per cent in 5 years. Investors should keep an eye on this gems & jewellery stock.

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