Penny stock can be categorized as the class of stocks whose price ranges anywhere between Rs 1 to Rs 50 and has a market capitalization of less than Rs 200 crore in India. These stocks are illiquid in nature as the trading volume is generally less and thus have a higher risk. Despite this, most of them are known to deliver multibagger returns.
Here are 3 penny stocks with low debt on their Balance sheet:
Kshitij Polyline Limited
The shares of Kshitij Polyline declined by 5 percent and ended at Rs 23 levels on Monday. In the past month, the stock has gained approximately 21 percent and in six months, it has added 44 percent.
In the span of seven months, the stock price has increased from Rs 6.81 to the current levels, logging a multibagger return of 240 percent. An investment of Rs 1 lakh then would be worth Rs 3.4 lakhs today.
Kshitij Polyline Ltd is one of the leading manufacturers, suppliers, distributors, and exporters of Lamination Equipment & Stationery Products. The company exports its products to countries like Uganda, Lebanon, Sri – Lanka, South Africa, Bhutan, Nepal, and Dubai.
The penny stock has a market capitalization of Rs 117 Crore. In addition to that, they have low debt on their balance sheet with a debt to equity ratio of 0.73.
Filatex Fashions Limited
The shares of the company gained 5 percent on Monday’s session and ended at Rs 16.05 levels. In the span of six months, the stock has logged a multibagger return of 131 percent.
Further, on a yearly basis, the stock price has increased from Rs 5.95 levels in February 2022 up to the current levels, logging a multibagger return of 170 percent in the period.
Filatex Fashions Ltd. is one of India’s oldest players in socks manufacturing. It specialises in quality cotton, woollen, and silk socks. The company has two brands- Smartman and Tuscany. The clientele of the company includes Marks & Spencer, Adidas, Sergio Tacchini, and Walt Disney among others.
The company has a market capitalization of Rs 155 Crore and the debt on its balance sheet is low as indicated by their debt to equity ratio of 0.04.
Galactico Corporate Services Limited
The shares of Galactico Corporate Services declined marginally and ended Monday’s session at Rs 12.76 levels. In the past month, the stock has shed approximately 10 percent and in six months it has declined by 59 percent.
However, in a year’s time frame, the stock has gained approximately 130 percent as the price has risen from Rs 5 in March 2022 up to the current levels.
Galactico Corporate Services Ltd is a SEBI Registered Merchant Banker that provides Investment Banking, Transaction Advisory, Valuation, and Business Modeling services.
The company has a market capitalization of Rs 190 Crore and a debt to equity ratio of 0.35.
Written by Anoushka Roy
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