Turnaround story in this penny stock under Re 1 & promoters sold 26.47 per cent stake: This manufacturer of conductors and wires company reports a 100 per cent jump in PAT

The stock is up by 55.5 per cent from its 52-week low of Rs 0.45 per share.

Godha Cabcon and Insulation Ltd announced stellar Quarterly Results (Q4FY24) and annual results (FY24). Here are the details:

Quarterly Results: The net sales increased by 356 per cent to Rs 16.69 crore in Q4FY24 compared to Rs 3.66 crore in Q4FY23. The company reported an operating profit of Rs 1.55 crore and a net profit of Rs 1.22 crore in Q4FY24 compared to an operating loss of Rs 8.24 crore and a net loss of Rs 9 crore in Q4FY23, a turnaround story with an increase of 119 per cent and 114 per cent, respectively.

Annual Results: The net sales increased by 378 per cent to Rs 16.76 crore in FY24 compared to Rs 3.51 crore in FY23. The company reported an operating profit of Rs 0.81 crore and a net profit of Rs 0.51 crore in FY24 compared to an operating loss of Rs 1.92 crore and a net loss of Rs 1.40 crore in FY23, a turnaround story with an increase of 142 per cent and 136 per cent, respectively.

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Godha Cabcon and Insulation Ltd, founded in 2007, is an Indore-based manufacturer of aluminium conductors used in overhead electricity transmission and distribution lines. Their product range includes bare overhead conductors (AAAC) for primary and secondary distribution, aluminium conductor steel reinforced (ACSR) cables for overhead transmission, all aluminium conductors (AAC) for overhead transmission and distribution, and armoured and unarmoured cables for underground electricity supply in power networks and ducting.

The promoters of the company sold a 26.47 per cent stake in the company and decreased their stake to 7.97 per cent in March 2024 compared to 34.44 per cent in March 2023. Godha Cabcon & Insulation Ltd has a market cap of Rs 46.64 crore. The stock is up by 55.5 per cent from its 52-week low of Rs 0.45 per share.

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