Vijay Kedia’s Multibagger Stock Jumps 1200 per cent; Huge Revenue Realization to be Seen by FY24!
The company has to execute 13,458 orders in the next five months, until March 2024, where massive revenue awaits entry into the company's income statement.
The order book is divided into two verticals Automation and Car Parking.
Order Book Update
As of October 2023, Affordable Robotic & Automation Ltd had a total order book of 18,001 orders, of which 9,685 were in Automation and 8,316 were in Car Parking. Out of this, the company has executed 4,543 orders till October 2023, of which 3,156 orders were in Automation and 1,387 orders were in Car Parking. This means that the company has to execute 13,458 orders in the next five months till March 2024, of which 6,529 orders are in Automation and 6,929 in Car Parking.
The company's order book has shown a significant increase, from 10,240 orders in October 2022 to 18,001 orders in October 2023, a growth rate of 75.79 per cent. Automation orders grew by 44.33 per cent, while Car Parking orders saw a substantial 135.5 per cent growth.
Company management has committed to a compound annual growth rate of more than 40 per cent on a year-on-year basis, saying that the growth momentum will continue because the company has an adequate order book to ensure this.
Financial Update
The company reported a robust performance with a staggering 135 per cent growth in revenue, reaching Rs 42.7 crores for H1 FY24, compared to Rs 18.14 crores for H1 FY23. EBITDA reflected a notable improvement, registering a 59 per cent growth by narrowing the losses. The loss in H1 FY24 stood at Rs 2.79 crore, a significant reduction from the loss of Rs. 6.83 crore in H1 FY23. The company reported a 42 per cent growth in Profit Before Tax by narrowing the losses, company reported a loss of Rs 0.04 crores in H1 FY24, compared to a loss of Rs. 8.59 crores in H1 FY23.
The company expected and gave affirmation to the investors that most of their deliveries happen in 2nd half of the year so the losses of H1 get recovered in H2.
Stock Performance
The stock has displayed an exceptional performance, soaring by an impressive 288.35 per cent over the past year, reflecting strong short-term growth. Over a more extended horizon, the three-year performance is staggering at 1,298.60 per cent. The stock price has had a historical gain of 429.10 per cent since it was listed on the exchange. Popular ace investor Vijay Kedia's 9.93 per cent shareholding in this company gives confidence to retail participants to ride the coming bull rally in the stock.
About Company
Affordable Robotic and Automation Limited is a turnkey automation solution provider for all industrial automation needs, including line automation, assembly lines, conveyors, robotic inspection stations, pick and place systems, gantry systems, and auto assembly stations.
Disclaimer: The article is for informational purposes only and not investment advice.
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