Shares of this small-cap stock hit the 2 percent upper circuit in Tuesday’s trading session after the company announced robust results for Q3FY23–24, i.e., for the quarter ended December 2023.
With a market capitalization of Rs 1,135 crores, the stocks of GPT Infraprojects Limited started their trading session on Tuesday hitting the 2 percent upper circuit at Rs 195.15 and are currently locked at the same share price. The company’s locked share price is also marked as the fresh 52-week high price.
Such bullish stock price movements were observed after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), announced the financial results for the quarter ended December 2023.
During the recent financial quarters, the company reported a jump in both the prime indicators of business, viz, operating revenues as well as after-tax profits with the former taking a shift from Rs 233.62 crores during Q2FY24 to Rs 253.75 crores during Q3FY24, and the after-tax profits, during the same period, rising from Rs 13.51 crores to Rs 14.90 crores.
Moreover, the company, yearly, reported an increase in both the metrics mentioned above with the operating revenues rising from Rs 200.43 crores during Q3FY23 to Rs 253.75 crores during Q3FY24, and the after-tax profits, keeping the timeframe the same, shifted from Rs 7.56 crores to Rs 14.90 crores exhibiting an increase of 97 percent.
Keeping a purview of six months, the company’s stock delivered multibagger returns of 152 percent to its shareholders, viz, if someone had invested Rs 1 lakh into the company’s stock six months ago, it would have converted to Rs 2.52 lakhs.
According to the latest shareholding data available for the quarter ended December 2023, the company’s Promoters hold a 75 percent stake, and the Public (retail) investors hold a 20.74 percent stake in the company.
GPT Infraprojects Limited is an infrastructure company based in India that is engaged in manufacturing concrete sleepers and allied products.
Operating majorly in India, the company manufactures a wide range of monoblock and pre-stressed concrete (PSC) sleepers for varied applications including line sleepers, bridge deck sleepers, level crossing, switches expansion joints, and others.
Written by Amit Madnani
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