550 per cent returns: This multibagger auto ancillary company receives order worth EURO 55,673.28 from Carraro Drive Tech Italia S.P.A.!
The stock gave multibagger returns of over Rs 550 per cent in just 3 years whereas BSE Sensex Index is up by 77 per cent.
Kranti Industries Ltd informed that the company has received a purchase order (PO) for the production of beam trumpet to Carraro Drive tech Italia SPA. The order is worth Rs EURO 55,673.28 and will be completed within 2 months from LOI.
Additionally, the company received in-principal approval from BSE Limited on September 25, 2023, for 10,25,000 equity shares having a face value of Rs 10 each to be issued at a price not less than Rs 101 per share to non-promoters on a preferential basis.
Kranti Industries Limited produces and distributes metal products. The company offers axle, transmission, automotive, and other parts and components. Kranti Industries serves customers worldwide.
Talking about the financials, Kranti Industries has a market cap of Rs 90 crore with a 3-year stock price CAGR of 88 per cent. In its Quarterly Results, the net sales increased by 6 per cent to Rs 25.87 crore and net profit decreased by 89 per cent to Rs 0.14 crore in Q1FY24 compared to Q1FY23. In FY23, the net sales decreased by 0.44 per cent to Rs 93.24 crore however net profit skyrocketed by 135 per cent to Rs 5.22 crore in Q1FY24 compared to Q1FY23.
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According to the shareholding pattern, the promoters of the company own a 74.34 per cent stake in the company and the rest 25.66 per cent stake is owned by the public with a total of 3,326 shareholders as of June 2023.
On Monday, shares of Kranti Industries Ltd gained 1.76 per cent to Rs 87.25 per share with an intraday high of Rs 88.80 per share and an intraday low of Rs 84.05 per share.
The stock gave multibagger returns of over Rs 550 per cent in just 3 years whereas BSE Sensex Index is up by 77 per cent. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.