Multibagger Microcap stock hits 5 percent upper circuit in the day’s trade after it wins case dated 2011-12, against Customs, Excise & Service Tax Appellate Tribunal regarding payment of Rs. 115.6 Million.
In the day’s trade the shares of Sprayking Agro Equipment Limited hit 5 percent upper circuit at Rs. 226.55 and its market capitalization is Rs. 239.42 Crores.
As per the company’s filing, Sprayking Agro Equipment Limited has won the case against Customs, Excise & Service Tax Appellate Tribunal, the case was regarding the notice sent to Sprayking Agro Equipment for payment of Rs. 115.56 million dated 2011-12. After the case was ruled in favour of Sprayking Agro, it is no longer required to pay the above amount.
It has delivered multibagger returns of 893 percent in a year and 106 percent in the last six months. A shareholders investment of Rs. 1 lakh in the company would be worth Rs. 9.93 lakh in a year
The company’s revenue grew 20.89 percent from Rs. 15.99 Crores in FY22 to Rs. 19.33 Crores in FY23, accompanied by increasing profits of Rs. 0.35 Crore to Rs. 1.7 Crore.
It has reported a return on equity (ROE) of 10.04 percent and a return on capital employed (ROCE) of Rs. 13.2 percent, it is making good returns on its equity and capital employed taking its year on year increase in Profitability into consideration.
Sprayking Agro Equipment Limited is one of the leading players in brass parts manufacturing, including Brass Fittings, Brass Forging Equipment, Brass Transformer Parts & other Customized Brass Parts.
Written by: Bharath K.S
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