5,000 per cent multibagger return: This semiconductor company bags order from Eastern Railways, stock hits upper circuit today!
The company's shares have delivered an impressive return of over 4,300 per cent to their shareholders.
MIC Electronics is a global leader in the design, development, and manufacturing of high-end telecom equipment. The company is directly or indirectly also involved in the semiconductor industry. It specialises in semiconductor packaging and testing solutions.
MIC Electronics’ bags order from Malda Division of the Eastern Railway Zone
MIC Electronics Limited has announced that the company has received a Letter of Acceptance from the Malda Division of the Eastern Railway Zone for the replacement of CIB, TIB of PF No: 1, 4&5, and passenger amenities at Bhagalpur Station of the Malda Division. The aggregate value of the said Work Order is Rs 1,47,24,831.24 (Rupees One Crore Forty-Seven Lakh Twenty-Four Thousand Eight Hundred and Thirty-One Rupees and Twenty-Four Paise Only). The orders are to be executed within 1 year from the date of issue of the Letter of Acceptance.
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Financial Performance of MIC Electronics
The Meeting of the Board of Directors of the company is scheduled to be held on Tuesday, May 21, 2024, to consider, and approve the Quarterly Results of the company as well as for the FY24.
In Q3 FY24 MIC Electronics reported revenue of Rs 17.49 crore, representing a year-on-year growth of 1310 per cent from Rs 1.24 crore same quarter last year. The company posted an operating profit of Rs 3.06 crore, compared to a loss of Rs 0.45 crore in the same quarter last year. The company’s net profit stood at Rs 2.71 crore in the Q3 FY24.
Share Performance of MIC Electronics
On Tuesday, the company's stock rallied 5 per cent hit the upper circuit, and finally closed at around Rs 49.35 per share, with a market capitalisation of Rs 1092.84 crore. Additionally, the stock has delivered a multibagger return of around 173 per cent in the past one year.
Investors must keep this Small-Cap multibagger stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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