Rs 1047 crore order book: This multibagger small-cap company reports a 33 per cent jump in net profit along with increasing its footprint in the ultra-luxurious segment in Mumbai

The stock gave multibagger returns of over 200 per cent in just 1 year whereas BSE Small-cap Index is 65 per cent and a whopping 910 per cent in 3 years.

Man Infraconstruction Limited (MICL), headquartered in Mumbai, a leading construction company and a pioneer name in real estate development, announced its results for the period of Q3FY24 and 9MFY24.

According to Quarterly Results, the net sales increased by 12.3 per cent to Rs 241.75 crore and net profit increased by 32.85 per cent to Rs 86.51 crore in Q3FY24 compared to Q2FY23. In its nine-month results (9MFY24), the company reported net sales of Rs 967 crore compared to net sales of Rs 1,210 crore in 9MFY24 while net profit increased by 33 per cent to Rs 235 per cent in 9MFY24 compared to Rs 177 crore in 9MFY23. Maintained net cash positive balance sheet and healthy liquidity of Rs 545+ crore at the consolidated level as of December 2023.

The company announced its fourth interim dividend of Rs 0.54 per equity share (i.e. 27 per cent) on 37,12,50,405 equity shares having a face value of Rs 2 each, for the Financial Year 2023-24. The Record Date to determine the entitlement of shareholders for the said fourth interim dividend has been fixed as Thursday, February 15, 2024, and the said dividend shall be paid/ dispatched on Tuesday, February 27, 2024.

The company successfully raised Rs 543 crore through a preferential issue of warrants, with 25 per cent of the allotment money received in January 2024. Additionally, it launched two ultra-luxurious projects, namely 'Aaradhya One Park' and 'Aaradhya Avaan' in Mumbai, collectively spanning approximately 10.6 lakh sq. ft. of carpet area. 'Aaradhya One Park' in Ghatkopar East achieved record sales of Rs 333 crore upon its launch in the fourth quarter of 2023-24. Furthermore, the company obtained the Occupancy Certificate (OC) in January 2024 for the remaining residential towers of the 'Aaradhya One Earth project in Ghatkopar East. It is also undertaking the redevelopment of an exclusive residential marvel at Pali Hill, Bandra West, covering 50,000 sq. ft. of carpet area, with an indicative sales target of Rs 500 crore.

Man Infraconstruction Limited (MICL) is an integrated EPC (engineering, procurement & construction) company with experience and execution capabilities in port, residential, commercial & industrial and road construction segments. The company has a market cap of Rs 8,800 crore and as of December 31, 2023, the company's order book stands at Rs 1,047 crore.

The company board allocated 3.5 crore warrants at Rs 155 each, raising Rs 543 crore, but opted to sell off 200,000 unsubscribed warrants. They received Rs 135 crore upfront, representing 25 per cent of the warrant price, with notable investors like Radhakishan Damani's son-in-law and Quant Mutual Fund participating alongside other non-promoters.

Today, shares of MICL gained 6.10 per cent to an intraday high and a fresh new 52-week high of Rs 249.40 per share from its previous closing of Rs 235.10. The shares of the company have an ROE of 26.40 per cent and an ROCE of 32 per cent. The stock gave multibagger returns of over 200 per cent in just 1 year whereas BSE Small-Cap Index is 65 per cent and a whopping 910 per cent in 3 years. Investors should keep an eye on this small-cap stock.

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