Rs 1 Lakh Turned Rs 12 Lakh in 2 Years: Microcap Company Announces Import of Cutting-Edge Finishing Machinery from China Worth Rs 21.69 Million - Stock Under Rs 20!
The company’s shares have delivered a multibagger return of over 1,000 per cent in the past 2 years.
Sprayking Ltd (formerly Sprayking Agro Equipment Limited) has announced the import of cutting-edge finishing machinery from China, valued at Rs 21.69 million. This strategic acquisition aims to enhance the precision and efficiency of the company’s finishing processes. The delivery and installation of the new machinery are expected within the next 60 days. Once operational, the equipment will significantly improve product quality and reduce lead times, benefiting both the company and its customers.
Based in Jamnagar, Sprayking Ltd is a leading manufacturer, known for its commitment to innovation and quality. The newly acquired high-tech equipment represents a major step forward in integrating modern technology into their production. The machinery has been fully paid for in advance, highlighting the company’s dedication to maintaining a competitive edge.
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Currently, the shares of Sprayking Ltd are trading at around Rs 17.22 per share on the BSE. The company’s current market capitalization stands at Rs 181.98 crore. Additionally, the shares have delivered an impressive multibagger return of over 1,080 per cent in the past 2 years only. During this period, if you had invested Rs 1 lakh two years ago, it would have grown to Rs 11.80 lakh, or around Rs 12 lakh.
Furthermore, the company has announced 1:1 bonus shares this year.
As per the Quarterly Results, in the Q1 FY25, Sprayking Ltd recorded a revenue of Rs 35.81 crore compared to Rs 16.34 crore. The operating profit stood at Rs 4.39 crore with a margin of 12.26 per cent. The net profit stood at Rs 2.35 crore compared to a profit of Rs 1.04 crore. Looking at the annual performance, the company generated a revenue of Rs 102 crore in FY24. The company’s net profit stood at Rs 9 crore compared to a profit of Rs 2 crore in FY23.
Investors must keep this stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.