Multibagger penny stock under Rs 90 hits an all-time high as it announces stellar quarterly results and nine-month results – PAT zooms over 60 per cent!

The stock gave multibagger returns of over 150 per cent in just 1 year and up 295 per cent from its 52-week low of Rs 22 per share.

Today, shares of Sigachi Industries gained 17.35 per cent and traded at an intraday high of Rs 86.69 per share from its previous closing of Rs 73.87 per share. The shares of the company saw a spurt in volume by more than 2 times on BSE and made a fresh 52-week high & all-time high of Rs 86.69 per share. At 02:30 pm, shares of the company were trading at Rs 82 per share, up 11 per cent.

Sigachi Industries was incorporated in 1989. It is engaged in the manufacturing of Microcrystalline Cellulose (MCC) which is widely used as an excipient for finished dosages in the pharmaceutical industry. The company has a market cap of over Rs 2,500 crore and has delivered good profit growth of 50 per cent CAGR over the last 5 years.  

The company announced stellar Quarterly Results (Q3FY24) and nine-month results (9MFY24) for the financial year 2024 which was the main reason for the sudden rise in the stock price.

According to quarterly results, revenue increased by 61.2 per cent to Rs 110.9 crore, EBITDA increased by 61.4 per cent to Rs 22.6 crore, PBT increased by 60.2 per cent to Rs 19.7 crore and PAT increased by 65.3 per cent to Rs 16.2 crore in Q3FY24 compared to Q3FY24.

According to nine-month results, revenue increased by 28.4 per cent to Rs 294.8 crore, EBITDA increased by 29.7 per cent to Rs 60.3 crore, PBT increased by 19 per cent to Rs 52.5 crore and PAT increased by 16 per cent to Rs 42 crore in 9MFY24 compared to 9MFY24.

The stock gave multibagger returns of over 150 per cent in just 1 year and up 295 per cent from its 52-week low of Rs 22 per share. Investors should keep an eye on this Small-Cap pharma stock.

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