Shares of this multibagger micro-cap stock gained traction after the company intimated about the receipt of an order from Gujarat Energy Transmission Corporation Limited worth Rs 5.82 crores.
With a market capitalization of Rs 138.54 crores, the stocks of JSL Industries Limited closed at Rs 1,180.20 on Thursday, hitting the 2 percent lower circuit compared to the previous close of Rs 1,204.25 apiece. The company’s stock has been hitting the 2 percent lower circuit since the inception of this trading week.
The company, in a recent filing with the Bombay Stock Exchange (BSE), intimated that it has received an order from “Gujarat Energy Transmission Corporation Limited” for the purpose of supplying 66KV Class CT/PT worth Rs 5.82 crores. The order is decided to be executed by August 10th, 2024.
Keeping today’s stock movement aside, the company’s stock has seen a stellar performance delivering multibagger returns of around 102 percent to its stakeholders in just one month. Due to aggressive additions to its products, specifically in the ‘IT & Motor Unit’ segment, the company expects better growth prospects.
During the recent quarters, the company’s financials showcased opposing movements as far as the operating revenues and net profits are concerned. The former, on one end, fell marginally from Rs 12.50 crores during Q1FY23-24 to Rs 11.76 crores during Q2FY23-24, and, the latter, during the same time horizon, rose from Rs 1.95 crores to Rs 2.85 crores.
Having a look at the latest shareholding pattern data as of the September 2023 quarter, the company’s Promoters hold a 40.76 percent stake, Public (retail) investors hold a 46.69 percent stake, and the remaining 12.55 percent stake in the company is held by the Domestic Institutional Investors (DIIs).
JSL Industries Limited is a company based in India that is engaged in the business of engineering. Operating via a single segment, i.e., manufacturing of engineering goods, the company manufactures a wide range of products comprising transformers, motor starters, auxiliary contactors, thermal overload relays, etc.
Written by Amit Madnani
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