The share price of the microcap stock hit its upper circuit of 20 percent of Rs 66 from its previous close of Rs 55 after the company non-promoter sold 3.63 percent of the stake in the open market and earning release.
According to the filling of Globlin India Limited, the India Equity Fund 1 is a non-promoter, selling 5 lakhs equity shares or 3.63 percent of the company stake in the company.
Additionally, they released the company’s Half-yearly results, their net revenue increased by 24 percent year over year, from Rs 17.75 crore in Q2FY23 to Rs 22.01 crore in Q2FY24. Their revenue rose by 19 percent sequentially from Rs 18.5 crore in Q1FY24 to the current levels.
In addition, the net profit increased by 5909 percent year over year, from a net loss of Rs 0.021 crore in Q2FY23 to a net profit of Rs 1.22 crore in Q2FY24. Their net profit fell by 28 percent sequentially from a net profit of Rs 1.7 crore in Q1FY24 to the current levels.
Goblin India Limited has a low price-to-earnings ratio of 37 compared to its peers, the company has a low debt-to-equity ratio of 0.86, with a good current ratio of 3, and a quick ratio of 2.2, a net profit margin of around 6 percent is higher than the last 3 years.
However, the share price of the company rose 32 percent in the last month and the year to date is in negative of 10 percent. The microcap stock has a market capitalization of Rs 91 crores.
The company’s promoters hold a 40 percent share in the company, 50 percent held by the general public, the international institutional investors hold 5 percent and the local institutional investors hold 5 percent.
Goblin India Ltd was founded in 1989 and specializes in importing and trading luggage bags, travel accessories, and corporate gifts.
Written by Sriram KV
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