Vijay Kedia’s portfolio multibagger penny stock with Rs 19,135 crore order book reports a 260 per cent jump in net profit – FIIs increase stake!

Kiran Shroff
/ Categories: Trending, Penny Stocks
Vijay Kedia’s portfolio multibagger penny stock with Rs 19,135 crore order book reports a 260 per cent jump in net profit – FIIs increase stake!

The stock gave multibagger returns of 345 per cent in just 1 year whereas BSE Small-Cap Index is up by 60 per cent.

Today, the stock market ended the day in green with the BSE Sensex Index up by 0.68 per cent at 71,555.19 and the NSE Nity-50 Index up by 0.59 per cent at 21,743.25.

Along with the market in green, one multibagger penny stock was also trading in the green, up 1.35 per cent to Rs 68.09 per share with an intraday high of Rs 70.33 and an intraday low of Rs 64.10. The stock’s 52-week high is Rs 79 while its 52-week low of Rs 13.10.  

The buzzing stock is Patel Engineering Ltd.

Patel Engineering Ltd is engaged in the construction of dams, bridges, tunnels, roads, piling works, industrial structures and other kinds of heavy civil engineering works in areas like hydro, irrigation & water supply, urban infrastructure and transport. The company has a market cap of over Rs 5,000 crore with a 3-year stock price CAGR of 75 per cent.

Results: According to nine-month results, the net sales increased by 19.17 per cent to Rs 3,200.93 crore, operating EBITDA increased by 15.31 per cent to Rs 452.72 crore and net profit skyrocketed by 99.79 per cent to Rs 140.73 crore in 9MFY24 over 9MFY23. In its nine-month results, the net sales increased by 11.14 per cent to Rs 1,061 crore, operating EBITDA increased by 1.39 per cent to Rs 142.08 crore and net profit skyrocketed by 260.55 per cent to Rs 70.24 crore in Q3FY24 over Q3FY23. In its annual results, the net sales increased by 24.31 per cent to Rs 4,201.97 crore and net profit increased by 160 per cent to Rs 178.80 crore in FY23 over FY22.

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Order book: As of December 31, 2023, the company’s order book stands at Rs 19,135 crore (Including L1 Orders). Segment-wise order book includes hydroelectric (60.67 per cent), irrigation (21.05 per cent), tunnel (11.02 per cent, road (2.99 per cent) and other (27 per cent).  

As of December 2023, Vijay Kedia holds 1,30,00,000 or 1.3 crore shares in a multibagger penny stock i.e. 1.68 per cent and FIIs have increased their stake to 2.83 per cent. The stock gave multibagger returns of 345 per cent in just 1 year whereas BSE Small-Cap Index is up by 60 per cent.

Do you own Patel Engineering Ltd.’s stock backed by ace investor Vijay Kedia, in your portfolio? Do let us know in the comment session below

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

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