The bull run rolls back in the first week of December 2023 with the Nifty 50 index hitting its all-time high on Friday at Rs 20,291.55. In addition, the Sensex gained around 493 points and closed at levels of Rs 67,481.19.
Listed below is one such small-cap stock that has delivered multibagger returns of 1,280 percent to its stakeholders during the YTD period:
Spectrum Electrical Industries Limited
With a market capitalization of Rs 1,753.90 crores, the stocks of Spectrum Electrical Industries Limited closed at Rs 1,160 on Friday gaining around 1 percent as compared to the previous closing levels of Rs 1,150 apiece. In January 2023,
In January 2023, the stock price was trading at Rs 84 exhibiting a gain of around 1,450 percent compared to the prevailing price. The same means that if someone had invested Rs 10,000 into the company’s stock at the inception of this calendar year, it would have converted to Rs 1.38 lakhs.
The stock hit its 52-week high price on November 30th, 2023 at Rs 1,187.95 apiece. In the past couple of financial years, the company has been successful in reporting a consistent increase as far as the operating revenues and net profits are concerned.
The operating revenues shifted from Rs 141.2 crores during FY19-20 to Rs 253.35 crores during FY22-23, and, the net profits, keeping the timeframe the same, moved up from Rs 4.68 crores to Rs 8.45 crores.
As a result, the company’s profitability ratios increased with the return on equity (RoE) recently shifting from 9.55 percent during FY21-22 to 9.63 percent during FY22-23. In addition, the company’s net profit margin rose from 2.60 percent to 2.85 percent during the same time horizon.
Having a glance at the latest shareholding pattern data for the quarter ended September 2023, the company’s Promoters hold a 74.88 percent stake, and the Foreign Institutional Investors (FIIs), taking an entry into the stock in the latest quarter, holds a 0.56 percent stake.
Incorporated in 2008, Spectrum Electrical Industries Limited is involved in designing, manufacturing, and selling electrical and automobile components. The company offers distribution boards, AC boxes, mini MCB bases and covers, modular electric board panels, tools, etc.
Written by Amit Madnani
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