On Tuesday, a multibagger stock hit a 5 percent upper circuit after receiving a work order from Navayuga Engineering Company Ltd. (NECL).
With a market capitalization of ₹384 crores, Kore Digital Ltd.’s stock hit a 5 percent upper circuit at ₹1,093.65. The company has delivered a multibagger return of 444.10 percent in one year.
Kore Digital Ltd. received a work order worth ₹21 crore from Navayuga Engineering Company Ltd. (NECL), a flagship entity under the Navayuga group. The work is expected to be completed by June 2024.
On a YoY basis, the revenue from operations of the company increased by 822 percent from ₹5.85 crore in Q3 FY23 to ₹53.95 crore in Q3 FY24, and in the same period, the net profits increased by 308 percent from ₹1.02 crore to ₹4.16 crore.
Sequentially, on a QoQ basis, the revenue from operations increased by 320 percent from ₹12.83 crore in Q2 FY24 to ₹53.95 crore in Q3 FY24, and in the same period, the net profits also increased by 65 percent from ₹2.52 crore to ₹4.16 crore.
The stock has delivered a return on capital employed (ROCE) of 37.59 percent and a return on equity (ROE) of 30.06 percent in the trailing twelve years (TTM).
The shareholder pattern of the company shows that the promoters hold 71.38 percent, and the public holds the remaining 28.62 percent.
According to the investor presentation for February 2024, Kore Digital Ltd. outlines the prospects of the company. This includes ₹400 crore worth of projects such as the ‘Samruddhi and Mumbai Metro lines’ within the pipeline for 2024-25 and anticipates similar projects in the upcoming year, 2025-2026, with substantial growth estimated at ₹1,000 crore.
Kore Digital Ltd. is a public limited, Indian non-government company founded in 2009 as a telecommunication infrastructure provider. It offers high-end communication solutions to corporate and telecom network operators and has a registered office in Thane, Maharashtra. The services offered by KDL include installing and commissioning poles, towers, and optical fibre.
Written By Praveen R
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