Auto Penny Stock Under Rs 25 Jumps After Announcing Stellar Results; PAT Jumps 122.61 Per Cent in Q2FY25
The stock is up by 18 per cent from its 52-week low of Rs 21.01 per share.
On Thursday, shares of Pritika Auto Industries Ltd gained 3.77 per cent to Rs 24.80 per share from its previous closing of Rs 23.90 with an intraday high of Rs 25 and an intraday low of Rs 24.05.
Pritika Auto Industries Ltd., a cornerstone of the Pritika Group established in 1980, is a premier manufacturer of tractors and automotive components. Renowned for their expertise in machined castings and a diverse range of parts, they offer a comprehensive solution for the automotive and engineering industries. Their reputation as a trusted partner has solidified their position with leading OEMs, securing substantial annual orders from both multinational and domestic tractor manufacturers.
Pritika Industries Ltd. reported a net revenue of Rs. 85.77 crore in Q2FY25, which is not comparable to the previous year due to the demerger of its manufacturing unit and subsequent merger into Pritika Auto Industries Ltd. Despite this, the company achieved a significant 122.61 per cent increase in profit after tax, reaching Rs 10.58 crore in Q2FY25. For the first half of the fiscal year, net revenue stood at Rs 174.57 crore, slightly lower than the Rs 188.42 crore in H1 FY24. However, profit after tax saw a 50 per cent increase, reaching Rs 15.05 crore in H1 FY25 compared to Rs 10.03 crore in the same period last year.
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The company has a market cap of over Rs 400 crore and the stock’s 52-week high of the stock is Rs 54.33 and the 52-week low of Rs 21.10. According to the shareholding pattern, the promoters of the company have 59.85 per cent stake, FIIs own 7.27 per cent and the public owns 32.88 per cent as of September 2024. The stock is up by 18 per cent from its 52-week low of Rs 21.01 per share. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.