The shares of Kshitij Polyline Limited opened at Rs 91.75 to reach its new 52-week high and got locked in an upper circuit of 5 per cent. In the last five days, the stock has zoomed by more than 17 per cent. In the span of a month, the stock has gained 70 per cent.
The shares started to rally after the company announced its foray into the e-commerce domain and launched various products to increase its product range. The company is one of the leading manufacturers, suppliers, distributors and exporters of Lamination Equipment & Stationery Products.
The Board also approved the plan for increasing the product range to all possible products useful to schools, colleges, offices, corporates, printers, government departments and other places where such products will be consumed and utilised. The Board will strengthen its product line with quality and durability through research & development and requirements of consumers, the company said.
In June 2022, the company’s shares were trading at Rs 28.50 a piece on NSE. From there it has spiked up to the current levels logging a multibagger return of approximately 222 per cent.
If an investor would have invested Rs 1 lakh in the company in June their investment would be worth Rs 3.22 lakhs in just 3 months.
In the last six months the stock has delivered a multibagger return of 178 percent and in the span of a year the share price has jumped by 130 percent.
In Q1 of FY23 the company reported a total revenue of Rs 7.18 crores compared to Rs 39 crores in the previous quarter. In the latest quarter, their net profit stood at Rs 7.2 lakhs compared to Rs 41 lakhs in Q4FY22.
The micro-cap company has a market capitalization of Rs 92 crores and the promoters hold a 62.95 percent stake in the company with zero shares pledged.
Written by Anoushka Roy
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