Microcap Company Secures Rs 11.86 Crore Order from Samagra Shiksha Abhiyan – Stock Surges Over 360 Per cent in Just 1 Year!
The company’s shares have delivered a multibagger return of over 360 per cent in just 1 year.
Incorporated in 1983, Parin Furniture Ltd is a prominent manufacturer, supplier, and trader of a wide range of furniture products in India. The company offers a diverse portfolio, including hospital furniture, educational and institutional products, office desking and seating solutions, public seating solutions, and residential furniture such as sofa sets, dining tables with chairs, center tables, motorized and non-motorized recliners, bedroom furniture, wardrobes, and TV units. It also provides customized solutions for OEM partners and project-based requirements.
Parin Furniture has secured a contract from the Samagra Shiksha Abhiyan, under the Schools of Excellence Project by the Government of Gujarat's Education Department. The contract, dated 24/09/2024, is for the supply of school desks with chairs to various schools across Gujarat, with a total order value of Rs. 11.86 crores (Rupees Eleven Crores Eighty-Six Lakhs Only).
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Today, the shares of Parin Furniture Ltd closed at around Rs 336.25 per share on the NSE. The company’s current market capitalization stands at Rs 373.84 crore. Additionally, the shares have delivered a multibagger return of over 360 per cent in Just 1 Year.
The company doesn’t provide Quarterly Results and as per the half-yearly results in March 2024 recorded a revenue of Rs 33.74 crore compared to Rs 59.18 crore. The operating profit stood at Rs 4.13 crore. The net profit stood at Rs 0.79 crore compared to a profit of Rs 2.82 crore. Looking at the annual performance, the company generated a revenue of Rs 81.93 crore in FY24. The operating profit for FY24 was Rs 8.77 crore with an operating profit margin of 10.71 per cent. The company reported a net profit of Rs 2.27 crore in FY24.
According to the company's shareholding pattern, the promoters hold a 73.02 per cent stake while public investors own 26.98 per cent of the shares.
Investors must keep this micro-cap furniture company on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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