The company reported strong quarterly results in Q3FY24 with revenue surging 57.7 per cent year-on-year to Rs 495.6 crore.  Profit after tax (PAT) witnessed an even sharper rise of 301.8 per cent YoY to Rs 45.2 crore, pushing the PAT margin to a healthy 9.1 per cent compared to 3.6 per cent in the same quarter last year. Exports also showed positive signs, reaching Rs 62.2 crore in Q3FY24.

The stock has increased by 88.85 per cent in 6 months, although the BSE Sensex has only increased by 19.43 per cent. The stock PE multiple is 2.15 whereas the industry PE multiple is 17.2. Investors should keep this stock on their watchlist.