Multibagger microcap stock hit 5 percent upper circuit in the day’s trade after it declared its Q2FY24 results with 1,727 percent jump in the net profit and 910 percent jump in its revenue from operations.
In the day’s trade the shares of Sprayking Agro Equipment Limited hit 5 percent upper circuit at Rs. 216.35 and its market capitalization is Rs. 228 Crores.
Sprayking Agro Equipment Limited has reported a 1727 percent YoY jump in Net Profit from Rs. 0.15 Crore in Q2FY23 to Rs. 2.74 Crore in Q2FY24 and it grew 166 percent QoQ from Rs. 1.03 Crore in Q1FY24 to Rs. 2.74 Crore in Q2FY24.
Its revenue from operations grew 910 percent YoY from Rs. 3.22 Crore in Q2FY23 to Rs. 32.51 Crore in Q2FY24 and it grew 99 percent QoQ from Rs. 16.33 in Q1FY24 to Rs. 32.51 Crore in Q2FY24.
It has delivered multibagger returns of 469 percent in a year and 97 percent in the last six months. A shareholders investment of Rs. 1 lakh in the company would be worth Rs. 5.69 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 considering its profitability is increasing year on year.
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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