Penny Stock Under Rs 10: Stock Hits Back-to-Back Upper Circuit After Announcing Stellar Results; Profit Surged by 225 Per cent in Q2 FY25

The company’s shares have delivered an impressive return of around 100 per cent to its shareholders in just 1 year.

Incorporated in 1999, Shah Metacorp Ltd is a micro-cap manufacturer and supplier of a diverse range of stainless-steel products. The company specializes in the production, export, and supply of stainless-steel long products, including stainless steel bars and mild steel items. The company’s shares have been hitting the upper circuit for 2 days back-to-back after releasing a stellar Q2FY25 performance.

As per the Quarterly Results in September 2024 or Q2FY25, Shah Metacorp Ltd recorded a revenue of Rs 48.54 crore representing a growth of 128 per cent YoY compared to Rs 21.33 crore. The operating profit reported by the company was Rs 2.74 crore compared to Rs 0.59 crore while the margin stood at around 5.64 per cent compared to 2.77 per cent. The net profit stood at Rs 2.47 crore compared to a profit of Rs 0.76 crore. Looking at the annual performance, the company generated a revenue of Rs 97 crore in FY24. The operating profit for FY24 was Rs 4 crore with a net profit of Rs 4 crore compared to a net profit of Rs 2 crore in FY23.

Looking at the share performance, at the start of the day's trading session, shares of Shah Metacorp Ltd opened at Rs 5.49 per share, compared to the previous day's closing price of Rs 5.23 per share on the BSE. The shares rallied around 5 per cent and hit upper circuit back-to-back 2 days including today and finally, closed at Rs 5.47 per share. The company's current market capitalization stands at Rs 270.66 crore. Additionally, the company’s shares have delivered around 95 per cent return in the past 1 year only.

Furthermore, the company has reduced its debt from 37 crore to Rs 6 crore in September 2024.

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