On Friday, the Sensex and Nifty extended their rally for the fifth consecutive day, reaching new 52-week highs supported by widespread buying in various sectors and leading stocks.
However, by the close of trading, both benchmark equity indices ended the session in negative territory. The NSE Nifty 50 closed 33.90 points or 0.14 percent lower to finish the day’s trading at 24,010.60 while the BSE Sensex dipped 210.45 points or 0.27 percent to finish the day’s trading at 79,032.73.
Listed below is a microcap stock that has delivered multibagger returns of 4,557 percent to its stakeholders in 4 years:
With a market capitalization of Rs. 493 crores, the shares of Meghna Infracon Infrastructure Ltd started Friday’s trading session on a higher note at Rs. 466, gaining around 2 percent compared to its previous close of Rs. 447.90 and closed the day at around Rs. 450 apiece.
In June 2022, the stock price was trading at Rs. 9.60 exhibiting a gain of around 4,557 percent compared to the current price. For example, if someone had invested Rs. 1 lakh into the company’s stock 2 years ago, it would have converted to approximately Rs. 47.29 lakhs now.
Looking at the company’s financial statements, the revenue jumped by 28 percent from Rs. 7.41 crores during the December quarter to Rs. 9.49 crores in the March quarter. In addition, the net profits surged by 38 percent from Rs. 40 lakhs to Rs. 55 lakhs.
Comparing the same metrics on a YoY basis, the revenue surged by 268 percent from Rs. 2.58 crores during Q4FY23 to Rs. 9.49 crores in Q4FY24. On the other hand, the net profits showcased a transition from a net loss of Rs. 2.35 crores to a net profit of Rs. 55 lakhs.
Recently, the company launched a new residential project named ‘RIVAAN’ in Goregaon (West), Mumbai. Spanning approximately 1 lakh square feet, this project represents a pivotal advancement for the company as it strives to solidify its position as a premier developer of upscale real estate in Mumbai.
The project introduces an innovative community living concept, offering residents 1 and 2 BHK apartments along with commercial units on the first floor.
In terms of key financial metrics, the company reported a Return on Equity (RoE) of 24.03 percent and a return on capital employed (RoCE) of 25.84 percent for the period spanning FY23-24. Further, the net profit margin stood at 6 percent during the same timeframe.
According to the latest shareholding pattern, the Promoters hold 46.92 percent of the stake, the Public holds 52.90 percent of the shares, and the remaining 0.18 percent of the stakes are held by Foreign Institutional Investors (FIIs).
The company was formerly known as Naysaa Securities Limited and changed its name to Meghna Infracon Infrastructure Limited in May 2024. It provides investment advisory services, and investment-related tools and services in India.
Written By Vaibhav Patil
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
