Heavy buying: Back-to-back upper circuit in this small-cap multibagger stock; reports a 120 per cent jump in net profit!

Shares of the company have gained more than 80 per cent in the last six months.

Shares of SKM Egg Products Export (India) Limited were locked in the upper circuit on Monday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. In the last six months, the stock has gained about 80 per cent.

The company posted brilliant Quarterly Results. The revenue of the company for Q2FY24 stood at Rs 175.68 crore which grew by 9.51 per cent YoY. The operating profit of the company stood at Rs 41.20 crore, while the PAT of the company stood at Rs 26.89 crore, representing an impressive growth of 126.92 per cent YoY. 

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SKM Egg Products Export (India) Limited has also delivered multibagger returns to its shareholders in the last one year. During this period, the company’s share price jumped from Rs 134.70 on January 01, 2023, to Rs 405.30 on January 01, 2024, an increase of about 200 per cent in one year holding period. 

SKML is engaged in the manufacture & sale of egg powder and liquid eggs with varieties of blends used in various segments in the food industry, such as bakery & confectionery, noodles & pasta, meat & fish products, mayonnaise & salad dressing, and also in the health & pharmaceuticals sector. The company has an installed capacity to break 1.8 million eggs per day to produce 7500 MT of egg powder annually.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

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