Under Rs 100: From Lower Circuit to Upper Circuit in this Multibagger Stock with 14,000 Per Cent Returns with Heavy Volume; Keep Under Radar!
The stock gave multibagger returns of 166 per cent in just 6 months, 290 per cent in 1 year and a whopping 14,000 per cent in 5 years.
Today, the shares of MIC Electronics Ltd were locked in a 5 per cent upper circuit to Rs 91.69 per share from its lower circuit of Rs 92.97. The stock’s 52-week high is Rs 100.02 while its 52-week low is Rs 23. The shares of the company saw a spurt in volume by more than 1.01 times on BSE.
MIC Electronics Ltd informed that the Meeting of the Board of Directors of the company is scheduled to be held on Tuesday, July 23, 2024, inter-alia, to transact the following item(s) of business:
- To consider and approve the Un-audited financial results of the company for the quarter ended June 30, 2024.
- To consider the Limited Review Report of the Statutory Auditors for the quarter ended June 30, 2024.
- To consider and approve the Board’s Report together with annexures for the FY 2023-24.
- To fix time, date, and venue of the 36th Annual General Meeting of the Company and approve the Notice of 36th AGM for the FY 2023-24.
- To appoint the Scrutinizer for 36th AGM of the Company.
MIC Electronics Ltd., founded in 1988, is a leading manufacturer of LED displays (indoor, outdoor, mobile), lighting solutions (indoor, outdoor, solar), telecom equipment, and software. They also produce medical equipment like oxygen concentrators and batteries. Headquartered in India, MIC exports its products globally and has a presence in the USA, Australia, UK, and other countries.
Earlier, the company was approved by the Ministry of Railways (Government of India) to supply emergency lighting systems for specific types of railway coaches (EOG Type LHB AC & NAC). This approval comes after a successful capacity and capability assessment by the Ministry, allowing MIC Electronics to register as a supplier for this equipment (item ID: 2400027). There are currently no specific details available regarding the order size, timeline for execution, or any significant terms and conditions. Additionally, this registration process does not involve any related party transactions between MIC Electronics and the Ministry of Railways.
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According to consolidated Quarterly Results, the net sales increased by 396 per cent to Rs 10.31 crore in Q4FY24 compared to Q4FY23. The company reported a turnaround net profit of Rs 8.80 crore in Q4FY24 compared to a net loss of Rs 0.01 crore in Q4FY23, an increase of 87,900 per cent. In its standalone annual results, the net sales increased by 826.3 per cent to Rs 54.58 crore and net profit increased by 41,967.3 per cent to Rs 61.84 crore in FY24 compared to FY23. Looking at the consolidated annual results, the company reported net sales of Rs 22.91 crore and net profit of Rs 0.26 crore in FY24.
FIIs bought 2,01,99,118 shares in Q1FY25 and increased their stake to 8.38 per cent compared to 0.29 per cent in March 2024. MIC Electronics has a market cap of over Rs 2,200 crore with a 3-year stock price CAGR of 300 per cent. The stock gave multibagger returns of 166 per cent in just 6 months, 290 per cent in 1 year and a whopping 14,000 per cent in 5 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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