Penny stock under Rs 7: This micro-cap company announces partnership with World Championship of Legends & roped in ITW Sports as league consultants; details inside!
The stock is up by 33 per cent from its 52-week low and down by 65 per cent from its 52-week high.
Toyam Sports Limited (TSL), India's sole BSE-listed sports company, unveiled its partnership with the World Championship of Legends (WCL) through its subsidiary, Pacific Star Sports (PSS). This noteworthy partnership signifies TSL's substantial investment in the upcoming T20 cricket league, scheduled to take place at Edgbaston, United Kingdom, from July 3, 2023 to July 13, 2024.
WCL, approved by the England and Wales Cricket Board (ECB), is a creation of Zabawa Entertainment, a distinguished Bollywood film and music production company with roots in India and Dubai. Boasting an impressive line-up, the league will feature legendary cricket players from yesteryear, including iconic figures such as Yuvraj Singh, Kevin Pietersen, Shahid Afridi, Chris Gayle, Harbhajan Singh, Suresh Raina, Bret Lee and many more.
Adding to the star-studded ensemble, Bollywood superstar Ajay Devgn joins as the co-owner of WCL, bringing his support and enthusiasm to this extraordinary cricketing spectacle. The tournament's presentation will be spearheaded by Indian travel company EaseMyTrip.
The inaugural edition of WCL promises to be a global T20 extravaganza, showcasing players from cricket powerhouses India, Australia, England, Pakistan, South Africa, and West Indies. With legendary ex-cricketers and currently non-contracted players participating, the league aims to provide fans with a thrilling experience filled with nostalgia.
Toyam Sports Limited (TSL), the sole sports-focused public company on Indian exchanges, actively produces, promotes, and manages events across MMA, Cricket, and Tennis. Their Kumite 1 League dominates India's MMA scene, while their reality show "Kumite 1 Warrior Hunt" garnered massive success in 2023. Beyond MMA, TSL sponsored the 2022 India vs Bangladesh ODI series and, through their subsidiary, owned a team in the 2023 World Tennis League, showcasing their commitment to diverse athletic pursuits both domestically and internationally.
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Today, shares of Toyam Sports Ltd plunged 1.44 per cent to Rs 6.16 per share from its previous closing of Rs 6.25 with an intraday high of Rs 6.45 and an intraday low of Rs 6.06. The stock’s 52-week high is Rs 19.45 while its 52-week low of Rs 4.65.
The abrupt surge in the stock price can be attributed to the company's announcement of outstanding Quarterly Results (Q3FY24) and nine-month results (9MFY24) for the fiscal year 2024. Here are the specifics: In the quarterly results, net sales soared by 915 per cent to Rs 19.68 crore, and net profit surged by 370 per cent to Rs 5.64 crore in Q3FY24 compared to Q2FY23. The company witnessed a remarkable turnaround, with net sales increasing by 234 times in Q3FY24 over Q3FY23 and reported a net profit of Rs 5.64 crore in Q3FY24, contrasting with a net loss of Rs 8.88 crore in Q3FY23.
In its nine-month results, net sales surged by 811 per cent to Rs 24.66 crore in 9MFY24, compared to Rs 2.71 crore in 9MFY23, while it recorded a net profit of Rs 6.36 crore in 9MFY24, up from a net loss of Rs 8.73 crore in 9MFY23, representing a 173 per cent increase.
The company’s only 0.33 per cent stake is owned by FIIs and the remaining 99.68 per cent stake is owned by the public as of December 31, 2023. The company has very little debt with only Rs 0.79 crore in current debt. The company has a market cap of Rs 348 crore. The stock is up by 33 per cent from its 52-week low and down by 65 per cent from its 52-week high.
Disclaimer: The article is for informational purposes only and not investment advice.
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