Numerous companies on the market have delivered multibagger gains to investors. One of these stocks can be found in MIC Electronics(NSE: MICEL).
The penny stock that was a popular option a few years ago has turned into an investment with multiple bags.
Over the past few years, the cost of MIC Electronics has seen an increase of 2757 percent. In August of 2019, the share price grew from 2.8 to Rs. 80 now.
MIC Electronics stock has given impressive returns even in the short term. The stock is up over 166 % during the last year.
However year-over-year, in 2024, the price has increased by approximately 137%.
Even though it suffered losses in 4 out of 9 months this year, however, the overall pattern of this stock is positive.
52-Week Peak
The multibagger stock reached its 52-week high of Rs 100.2 in July 2024. It’s trading at around 80 rupees.
It has however seen the stock rise by 248 percent from its lowest of the 52 weeks, which was Rs 23.
We can tell you that the stock crossed the same level in September 2023.
Quarterly Results Of The Company
MIC Electronics’ net profit was up by nearly 59 percent year-on-year (YoY) to 1.97 crore during the period that ended in June 2024. It was 1.24 crore during the previous period.
The company also earned revenue of the equivalent of Rs 10.73 crore in the period, an increase of 53 percent over the Rs 7.02 crore recorded in the same time frame last year.
What Do Experts Think?
The expert highlighted the company’s recent financial performance and highlighted some of its strengths.
The company’s annual EPS increase was strong which indicates profitability over time.
The company has seen an increase in net profit for the quarter and profit margins have increased year-over-year.
The brokerage however stated that promoters have increased the amount of shares pledged quarter-on-quarter.
In addition, the promoter’s holding decreased by greater than 2 % on a quarter-to-quarter basis.
Quick Fact
| Company name | MIC Electronics |
|---|---|
| Stock growth over years | Increased by 2757% |
| Stock price in August 2019 | ₹2.8 |
| Current stock price | ₹80 |
| Stock growth last year | Increased by 166% |
| 2024 year-over-year price growth | Increased by 137% |
| 52-week high price | ₹100.2 (July 2024) |
| Current trading price | ₹80 |
| Discount from 52-week peak | 20% |
| 52-week low price | ₹23 |
| Stock rise from 52-week low | Increased by 248% |
| Net profit (June 2024) | ₹1.97 crore |
| YoY net profit growth | Increased by 59% |
| Net profit (previous year) | ₹1.24 crore |
| Revenue (June 2024) | ₹10.73 crore |
| YoY revenue growth | Increased by 53% |
| Revenue (previous year) | ₹7.02 crore |
| Expert view on financials | Strong annual EPS growth |
| Profit margin (YoY) | Increased |
| Promoters pledge shares | Increased |
| Promoter holding (quarterly) | Decreased by over 2% |
Disclaimer: The website and its content are for informational purposes only and should not be considered investment advice.
