Shri Gang Industries And Allied Products Ltd shares were locked in the 5 percent upper circuit on Tuesday’s session at a price of Rs 58.31. Such a movement in the stock price was noticed after the company reported impressive Q4 FY 22-23 earnings.
The company’s net profit grew by 500% in Q4FY23 to Rs 8.42 crore from Rs 1.42 crore in Q4FY22. Furthermore, revenue from operations climbed by 107.58% to Rs 49.28 crore from Rs 23.74 crore in the previous year’s quarter.
Over a one-year period, the stock has provided multibagger returns of 413.29 percent to its stockholders, with a price from Rs 11.36 to current levels. This means that if someone invested Rs 1 lakh in the stock, it would have converted to Rs 5.13 lakh within a year.
Shri Gang Industries and Allied Products Limited are engaged in the manufacturing and sale of Edible Oils and Liquor. The company refined oil, and edible oils market under the brand name APNA & Mr. Baker. company primarily caters to the state of Uttar Pradesh in India.
According to the company’s financial statements, it succeeded in slightly increasing sales while shifting the net profit numbers upward from the previous two years. Revenues grew from Rs 40.62 crores in Q3 to Rs 49.28 crores in Q4 The company’s net profit increased from Rs 1.51 crores in Q3 to Rs 8.42 crores in Q4.
On a YoY comparison of the metrics, the revenues significantly improved from ₹ 81.54 crores during FY 21-22 to ₹139.25 crores in FY 22-23. The PAT numbers have shifted upwards within the timeframe mentioned, from ₹ 4.71 crores to ₹13.15 crores.
The stock fits into the “Penny Stock” category as it has a market capitalization of 104 crores and is trading at low prices.
Written by Omkar C
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