Shares of the microcap company jumped up to 8 percent in Thursday’s trading session after receiving an order from various renowned companies worth Rs. 41 crores. The shares have delivered a multibagger return of 203 percent to its investor in one year.
With a market capitalisation of Rs. 405 crores, the shares of Ashapuri Gold Ornament Ltd started Thursday’s trading session on a higher note at Rs. 17 compared to the previous close of Rs. 15.79. The shares hit a high of Rs. 17.36, gaining around 8 percent and are currently trading at Rs. 16.21 apiece.
Such a positive movement in the share price was observed after the company in an exchange filing announced that they had received orders from Malabar Gold Ltd., Kalyan Jewellers India Ltd., Tribhovandas Bhimji Zaveri Ltd., and other renowned customers to supply the Antique Gold Jewellery worth Rs. 41 crores. The product is to be delivered approximately in two months.
Coming onto the company’s financial statements, the revenue increased by 13 percent from Rs. 44.44 crores during Q2FY24 to Rs. 49.97 crores in Q3FY24. In addition, the net profits zoomed by 16 percent from Rs. 1.80 crores to Rs. 2.08 crores during the same timeframe.
The company caters its products to major jewellery companies like Malabar Gold, Tribhovanda Bhimji Zaveri Lt, Titan and many more.
Looking at the company’s important financial ratio, the return on equity stood at 2.19 percent during FY22-23 and the return on capital employed was recorded at 3.14 percent during the same period. The net profit margin for FY22-23 was recorded at 1.13 percent.
According to the latest shareholding pattern, the Promoters hold 62.17 percent of the stake, the Retail Investors have 33.51 percent shares and the remaining 4.32 percent are with FIIs.
Headquartered in Ahmedabad, Ashapuri Gold Ornament was incorporated in 2008. The Company is engaged in the business of wholesale trading of Jewellery. The Jewelleries are manufactured on a Job work basis at Ahmedabad and Rajkot.
Written By Vaibhav Patil
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