Multibagger penny stock below Rs 35: This micro-cap company bags new order worth Rs 84,16,656 from Ministry of Electronics and Information Technology!

The stock gave multibagger returns of over 100 per cent in just 1 year, 225 per cent in 2 years and a whopping 1,520 per cent in 3 years.

SBC Exports Ltd informed that the company has bagged 2 new orders worth Rs 84,16,656 from the Ministry of Electronics and Information Technology. Here are the details: -

Order No.1: The company has received the first order worth Rs 40,26,514 which includes a work order for providing office support and project management support and rollout services. The order will be completed in 12 months from LOI (January 08, 2023).

Order No.2: The company has received another order worth Rs 43,90,142 which includes a work order for providing office support and project management support and rollout services. The order will be completed in 6 months from LOI (January 09, 2023).

Additionally, the Board of Directors of the Company announced bonus shares in the ratio 1:2 i.e., 1 equity share for every 2 equity shares held by the existing equity shareholder of the company as on record date to be fixed in the meantime. Pre-Bonus Issue Paid-up Share Capital – 21,16,40,000 Post Bonus Issue Paid-up Share Capital – 31,74,60,000. The company fixed the record date for bonus shares as Friday, January 19, 2024.

Today, shares of SBC Exports Ltd gained 1.87 per cent from their previous closing of Rs 30.54 per share to an intraday high of Rs 31.11 per share. At 03:30 pm, shares of the company ended the day in red, down 0.36 per cent to Rs 30.43 per share.

SBC Exports Ltd was incorporated in 2011 with a market cap of over Rs 600 crore. It is engaged in the trading & manufacturing of garments, manpower supply services and tour operator services. Currently, the company has 70 distributors in India and receives an average of 75 new projects every year. 

The net sales decreased by 4.55 per cent to Rs 35.22 crore and net profit increased by 35.63 per cent to Rs 2.17 crore in Q2FY24 compared to Q2FY23. The net sales increased by 8 per cent to Rs 222 crore and net profit skyrocketed by 133.33 per cent in FY23 over FY22.

The stock gave multibagger returns of over 100 per cent in just 1 year, 225 per cent in 2 years and a whopping 1,520 per cent in 3 years. Investors should keep an eye on this micro-cap.

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