On Wednesday, a multibagger penny stock surged 4 percent after commissioning a franchise retail outlet. The stock has delivered a multibagger return of 123 percent in one year. For example, an investment of Rs 1 lakh a year ago would now be worth Rs 2.23 lakh.
With a market capitalization of Rs 94.79 crore, the stock price of Retina Paints Ltd. saw a 4 percent increase in today’s trading session, rising from the previous close of Rs 67.90 per share to an intraday high of Rs 70.80 per share.
Retina Paints Ltd commissioned its first franchise retail outlet in Khammam, Telangana, which will become operational tomorrow. Previously, on February 1st, the company announced its expansion into the retail business by opening a new retail outlet.
According to the FY23 annual report, the company has delivered segment wise revenue of Rs 11 crore from Rs 7 crore in FY22, and in the same period, it delivered a net profit of Rs 0.30 crore from Rs 0.16 crore.
The shareholder pattern of the company shows that 59.28 percent is held by the promoters, and the remaining 40.72 percent is held by the public.
The company has also delivered a return on equity of 4.04 percent and a return on capital employed of 6.47 percent in the trailing twelve months (TTM).
Retina Paints Ltd. is an Indian-based company engaged in manufacturing decorative paints, including distempers, primers, wall care products, emulsions, and others.
Additionally, the company offers tinting machines, which consist of multiple colorant reservoirs, cleaning fluid supply conduits, and dispenser heads for adding colorant to paint containers. The company operates on a B2B model.
Written By Praveen R
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