Multibagger penny stock at Rs 52 in green after the company bags new order worth Rs 14,93,39,000 from Gujarat Energy Transmission Corporation Ltd

The stock has a PE of 10x whereas the industry PE is 43.8x and gave multibagger returns of 220 per cent in just 1 year.

Today, one of the Top Gainers on BSE, shares of Jyoti Ltd gained 6.32 per cent to Rs 52 per share from its previous closing of Rs 48.91 per share. The stock’s 52-week high is Rs 65.96 per share while its 52-week low is Rs 13.93 per share.

The sudden rise in the stock price was due to the company bagging 2 orders worth Rs 14,93,39,000 from Gujarat Energy Transmission Corporation Ltd (GETCO).

The Switchgear Division of the Company has secured an order worth Rs 756.32 lakh (excluding 18 per cent GST) from Gujarat Energy Transmission Corporation Limited (GETCO) for supplying 11 KV VCB Panels according to specifications on a variable price basis. The order includes packing, forwarding, freight, and insurance, with a 12-month guarantee and a delivery deadline of August 05, 2024.

Jyoti Limited's Switchgear Division has secured an order worth Rs 737.07 Lakhs (excluding 18 per cent GST) from Gujarat Energy Transmission Corporation Limited (GETCO) for supplying 11 KV VCB Panels under a buyback agreement with variable pricing. The order includes packing, forwarding, freight, and insurance, with a guarantee period of 12 months from commissioning or 18 months from supply, whichever is earlier. The order is expected to be delivered by July 25, 2024.

Jyoti Ltd offers hydraulic and electrical products and services and designs and manufactures a wide range of Pumps and EPC Pumping Systems from concept to commissioning. The company is comprised of 2 divisions viz. project division and the switchgear division.

Talking about the financials, Jyoti Ltd has a market cap of Rs 86 crore with a 3-year stock price CAGR of 85 per cent. The company reported positive numbers in its Quarterly Results and annual results. In FY23, net sales increased by 30 per cent to Rs 155 crore and net profit skyrocketed 300 per cent to Rs 4 crore compared to FY22.

The stock has a PE of 10x whereas the industry PE is 43.8x and gave multibagger returns of 220 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.