Penny stock under Rs 3: This Micro-cap Debt-free Comapny Expands with 20 New Outlets, Targets Rs 400 Million Annual Revenue with up to 9 per cent Profit Margins
The company is almost debt free and expected to give good quarter.
Rajnish Wellness Ltd, a prominent player in the healthcare and wellness sector, has announced its plans to open 20 new Dava Discount outlets across key cities in India. This expansion marks a strategic move aimed at increasing the company’s market presence in the retail healthcare segment, focusing on providing affordable healthcare solutions to consumers.
The new outlets will be located in high-demand areas known for their significant healthcare sales potential, and each outlet is projected to generate annual revenues between Rs 15 million and Rs 20 million, with an overall revenue forecast of Rs 300 million to Rs 400 million annually from this expansion.
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Rajnish Wellness Limited, incorporated in 2015, focuses on providing affordable sexual wellness, personal care, and medical products. With a strong network in medical stores and e-commerce platforms, the company aims to enhance the well-being of the masses. In 2021, it launched the Dava Discount pharmacy franchise, now with over 100 outlets across India, offering discounted branded medicines and expanding through a franchise model. The new outlets, featuring the in-house brand PlayWin, are expected to boost revenues and improve operating margins, positioning the company to meet the growing demand for affordable healthcare while strengthening its financial standing.
The revenue in the Pharmacies market in India is projected to reach USD 41.78 billion in 2024. It is expected to show an annual growth rate (CAGR 2024-2029) of 4.92%, resulting in a market volume of USD 53.13bn by 2029.
This micro-cap penny stock is trading at Rs 2.79. The company has a market cap of Rs 273 crore. The company is almost debt-free and expected to give good quarter
Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.