The shares of Manaksia Ltd shot up by 5.56%, reaching a 52-week high of Rs 185.50 on Monday’s session from the previous close price of Rs 176.45.
One of the probable reasons for today’s record-high stock prices is the company’s recent announcement of Q4 earnings.
Based on standalone statements, The company’s revenue from operations grew by 150% in Q4FY23 to Rs 60 crore from Rs 24 crore in Q4FY22. Furthermore, net profit climbed by 43% to Rs 10 crore from Rs 7 crore in the previous year’s quarter.
In addition, the company’s board recommended a final dividend of 150 percent (i.e., Rs 3 per equity share having a face value of Rs 2 each) on the equity shares for the financial year 2023.
In the last six months, the stock has gained a multibagger return of 132 percent ranging from Rs 78.75 to the current price levels. Manaksia Ltd has a market capitalization of Rs 1,212 crores.
Manaksia Limited was incorporated in 1984. The company is engaged in trading and export of steel, aluminum, and packaging products. In FY21, Company derived 99% of its revenue from trading and export of metal products.
The latest consolidated financial reports for FY 22-23 exhibit an operating revenue of Rs 1,165 crores as compared to Rs 1,174 crores in the previous financial year.
Moreover, the company’s net profits were reported at Rs 107 crores during FY 22-23 and Rs 186 crores in FY 21-22.
According to standalone ratios, Profitability has predominantly expanded in recent years. ROE increased from 8.20 percent in FY 21-22 to 53.81 percent in FY 22-23, while ROCE rose from 7.62 percent to 66.58 percent.
During the same time period, the net profit margin increased from 13.47 percent to 67.82 percent, while the operating margin grew from 12.98 percent to 84.25 percent.
According to the latest shareholding pattern, promoters of the company hold a 74.93 percent stake, and the retail investors hold a 23.64 percent stake in the company for FY 22-23.
Written by Omkar C
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