Multibagger penny stock below Rs 30: This micro-cap company received new orders worth Rs 2,64,63,000 from various clients!

The stock gave multibagger returns of 125 per cent in just 1 year.

Abhishek Integrations Limited informed that the company received a work order for assistance in electrical operation and maintenance at R&WM, NRB, Tarapur having a total contract value of Rs 2.43 crore including GST.

Additionally, the company have received operation maintenance of firefighting installations hydrant and sprinkler system at the old new terminal building at VSI Airport Port Blair having total contract value of Rs 21.63 lakh including GST.

Earlier, the company received a work order for the operation and maintenance of additional/ alteration works of E&M installations including CMC of ACs & water coolers/ purifiers at Bag Dogra Airport for 2 years (2023-25) having a total contract value of Rs 2.38 crore (including GST) by Airport Authority of India (AAI).

Additionally, the Board of Directors of the company announced bonus shares in the ratio of 1:1 for its equity shareholders as of the record date. The shares ceased to trade cum-bonus on July 19, 2023, which was the record date for the bonus issue.

Abhishek Integrations Limited is in the business of developing, maintaining & operating Airports and allied businesses. The stock has a 52-week high of Rs 40.6 and a 52-week low of Rs 14.1.  

According to the financials, the company has a market cap of 17.46 crore. The net sales increased by 74.50 per cent to Rs 13.76 crore and net profit increased by 53.64 per cent to Rs 0.34 crore in H2FY23 over H2FY22. The net sales increased by 70.26 per cent to Rs 22.55 crore and net profit increased by 34.06 per cent to Rs 0.67 crore in FY23 over FY22.

The promotors of the company hold a 67.70 per cent stake in the company and the rest is owned by the general public which is 32.30 per cent as of March 2023. The stock gave multibagger returns of 125 per cent in just 1 year. Investors should keep an eye on this micro-cap stock.

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