Penny stock engaged in the development and operational activities catering to diverse sectors including construction, import-export of industrial equipment, mining, and many more in focus upon posting its Q4FY24 results with a 23,000 percent jump in Revenue and a 6,772 percent jump in Net profits.
With a market capitalization of Rs. 170 Crores, the shares of Gujarat Toolroom Limited hit a 5 percent lower circuit at Rs. 30.70 from its previous day’s close price of Rs. 32.31
Its revenue from operations grew by 22,985 percent YoY from Rs. 1.63 Crores in Q4FY23 to Rs. 376.29 Crores in Q4FY24 and it grew by 185.67 percent QoQ from Rs. 131.72 Crores in Q3FY24 to Rs. 376.29 Crores in Q4FY24. Annually it generated a revenue of Rs. 2.4 Crores in FY23 and Rs. 555.36 Crores in FY24 indicating a growth of 23,040 percent YoY.
Its Net Profit grew by 6,772 percent YoY from Rs. 73.19 Lakh in Q4FY23 to Rs. 50.29 Crores in Q4FY24 and it grew by 255 percent QoQ from Rs. 14.14 Crores in Q3FY24 to Rs. 50.29 Crores in Q4FY24. Annually it generated a Net Profit of Rs. 1.38 Crore in FY23 to Rs. 70.83 Crores in FY24, indicating a growth of 5,032 percent.
In addition, Gujarat Toolroom Limited has strategically acquired 65 acres of land on a long-term lease in Gujarat for the establishment of a cutting-edge Hybrid Power Plant.
Approximately 60 acres of land will be dedicated for the installation of solar panels and each acre is projected to generate 1 Megawatt of energy per hour. The remaining 5 acres will be designated for essential power management infrastructure, including transformer stations and high-voltage line terminals.
The land layout plan includes provisions for the placement of 15 on-shore wind turbines, strategically positioned across every 4 acres of land, each turbine is expected to produce 2.5 Megawatts of power per hour. Upon completion, the Hybrid Power Plant aims to contribute 97.5 Megawatts of clean and sustainable electricity to the grid
Gujarat Toolroom Limited is engaged in development and operational activities catering to diverse sectors including construction, import-export of industrial equipment, gemstones and precious metal, and mining operations.
Written by: Bharath K.S
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