4,200 per cent returns and Ashish Kacholia & FIIs increase stake: Multibagger forging company announces stellar FY24 results; PAT zooms over 100 per cent!
The stock gave multibagger returns of 218.6 per cent from its 52-week low is Rs 98.23 per share.
Today, shares of Balu Forge Industries Ltd gained 3.02 per cent and made a fresh new 52-week high of Rs 312.95 per share from its previous closing of Rs 303.75 per share. The stock gave multibagger returns of 218.6 per cent from its 52-week low is Rs 98.23 per share.
Balu Forge Industries Ltd. is a manufacturer of precision-engineered forged components, including fully-finished and semi-finished crankshafts. Their products cater to a wide range of industries like automobiles, defence, railways, and even the new energy sector. The company not only adheres to the latest emission regulations and can produce components for new energy vehicles, but they are also actively researching new materials like lightweight alloys and advanced composites. BFIL is a prominent player in the specialized engineering and precision machined components industry servicing a marquee global clientele spread across various industries such as aerospace, automotive, oil and gas, railways and defence.
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According to Quarterly Results, the net sales increased by 64.5 per cent to Rs 147.08 crore and net profit skyrocketed by 122.3 per cent to Rs 25.45 crore in Q4FY24 compared to Q4FY23. In its annual results, the net sales increased by 14.2 per cent to Rs 326.64 crore and net profit increased by 30.4 per cent to Rs 38.91 crore in FY24 compared to FY23.
According to the shareholding pattern, Ashish Kacholia increased its stake to 2.14 per cent and FIIs increased their stake to 9.71 per cent in March 2024 compared to 2.11 per cent and 8.77 per cent in December 2023.
The company has a market capitalization of over Rs 3,000 crore and the shares of the company have an ROE of 22 per cent & an ROCE of 27 per cent. The stock gave multibagger returns of 180 per cent in just 1 year and a whopping 4,200 per cent in a decade. 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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