From Rs 0.87 to Rs 2.06 per share, the stock gave multibagger returns of 137 per cent from its 52-week low till today’s intraday high.

From Rs 0.87 to Rs 2.25 per share, the stock gave multibagger returns of 158.6 per cent from its 52-week low till today’s intraday high.

From Rs 0.87 to Rs 2.24 per share, the stock gave multibagger returns of 157.5 per cent from its 52-week low till today’s intraday high.

From Rs 0.74 per share to Rs 2.34 per share, the stock gave multibagger returns of over 200 per cent from its 52-week low till today’s intraday high.

The stock gave multibagger returns of 125 per cent in 6 months whereas BSE Industrial Index is up by 36 per cent.

Penny stock IEL gave multibagger returns of over 790 per cent in the past 3 years, while penny stock GGEL has lost 72 per cent in the same period.

The Board has delegated powers to the officers/KMPs of the Company to evaluate the consolidation in consultation with advisors, who may be appointed in due course.

Earlier, the company announced stellar financial performance for the quarter ended June 30, 2023. The revenue from operations grew by 143.42 per cent to Rs 1894.66 lakh, EBITDA increased by 226.88 per cent to Rs 53.02 lakh and PAT increased by 145 per cent to Rs 33.88 lakh in Q1FY24 compared to Q1FY23.

Commenting on the Q1FY24 Performance earlier, the Management added, "We are pleased to announce the remarkable financial results for the Q1FY24, which demonstrate our continued commitment to growth, efficiency, and value creation. We have achieved significant improvements YoY in revenue, EBITDA, EBITDA margins, and profit after tax, reflecting the success of our strategic initiatives and the dedication of our team."

The net sales increased by 493 per cent to Rs 24,.93 crore and net profit increased by 2,018 per cent to Rs 5.37 crore in Q4FY23 over Q4FY22. In FY23, net sales skyrocketed 558 per cent to Rs 99.57 per share and net profit skyrocketed 3,404 per cent to Rs 9.93 over FY22.

he net sales increased by 493 per cent and net profit increased by 2,018 per cent in Q4FY23 over Q4FY22. In FY23, net sales skyrocketed by 558 per cent and net profit skyrocketed by 3,404 per cent over FY22. The stock has a PE of 5.19x whereas the sectoral PE is 27x.

Heavy buying was seen on this micro-cap stock and saw a spurt in volume by more than 6.04 times on BSE.