Accounting professor Joseph Piotroski established the Piotroski Score, a financial tool that evaluates a company’s overall health and profitability. The tool assesses accounting parameters and assigns a score from 0 to 9, helping investors find potential investment possibilities based on financial strength.
Here are the mid-cap stocks with a high Piotroski Score of up to 8.
Jai Balaji Industries Ltd
Jai Balaji Industries Limited manufactures iron and steel goods. The company’s products include sponge iron, pig iron, ductile iron pipe, ferrochrome, billet, thermomechanically treated (TMT), coke, and sinter, as well as a captive power plant.
With a market capitalization of Rs 17,007.73 crore, on Wednesday, the shares closed at Rs 1,060.00 per share, decreased around 1.01 percent as compared to the previous closing price. The company has a Piotroski score of ‘eight’.
Looking into the company’s financial performance, revenue increased by 0.13 percent from Rs 1,537 crore in Q3FY23 to Rs 1,539 crore in Q3FY24. During the same period, net profit increased by 739 percent, from Rs 28 crore to Rs 235 crore.
Natco Pharma Ltd
NATCO Pharma Limited (NATCO) is a vertically integrated, R&D-focused pharmaceutical firm that develops, manufactures, and markets complicated pharmaceuticals in specialty therapeutic areas.
With a market capitalization of Rs 17,110.37 crore, on Wednesday, the shares closed at Rs 955.30 per share, decreased around 3.43 percent as compared to the previous closing price. The company has a Piotroski score of ‘eight’.
Looking into the company’s financial performance, revenue increased by 54 percent from Rs 492 crore in Q3FY23 to Rs 759 crore in Q3FY24. During the same period, net profit increased by 243 percent, from Rs 62 crore to Rs 213 crore.
CIE Automotive India Ltd
CIE Automotive India Limited, formerly Mahindra CIE Automotive Limited, is an India-based multi-technology automotive component supplier with a diverse portfolio that includes forgings, castings, stampings, magnetic products, gears, and composites.
With a market capitalization of Rs 18,133.52 crore, on Wednesday, the shares closed at Rs 478.00 per share, increased around 0.22 percent as compared to the previous closing price. The company has a Piotroski score of ‘eight’.
Looking into the company’s financial performance, revenue decreased by 0.31 per cent from Rs 2,247 crore in Q3FY23 to Rs 2,240 crore in Q3FY24. During the same period, net profit increased by 125 per cent, from a loss of Rs 658 crore to a profit of Rs 169 crore.
Written by :- Abhishek Singh
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