Profit Sheets

Rs 2 to Rs 74: This penny stock turned into a multibagger in six months

December 2, 2021 10:03 PM

This penny stock turned into a multibagger in six months
Stock of Suraj Industries has delivered 3,378% returns to its shareholders in the last six months. The penny stock, which stood at Rs 2.14 on June 2, 2021, rose to an all-time high of Rs 74.45 on the BSE today.

Stock of Suraj Industries has delivered 3,378% returns to its shareholders in the last six months. The penny stock, which stood at Rs 2.14 on June 2, 2021, rose to an all-time high of Rs 74.45 on the BSE today. An amount of Rs 1 lakh invested in the Suraj Industries stock six months ago would have turned into Rs 34.78 lakh today. In comparison, Sensex has risen 12.5% during the period.

The stock has gained 175.2% in the last 21 sessions. The stock opened with a gain of 4.93% at Rs 74.45 on BSE today.

Market cap of the firm rose to Rs 64.40 crore. Total 150 shares of the firm changed hands amounting to a turnover of Rs 0.11 lakh on BSE.

Also read: 5 Best Dividend-Paying Penny Stocks in India stock market

The microcap share hit a 52-week low Rs 1.29 on December 7, 2020.

Suraj Industries share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has gained 162% in one month.

For the quarter ended September 2021, five promoters held 59.19% stake or 43.08 lakh shares and 15,512 public shareholders owned 50.19% stake or 43.41 lakh shares of the company.

15,444 public shareholders held individual share capital of up to Rs 2 lakh and owned 20.32 lakh or 23.50% stake at the end of September quarter.

14 shareholders owned individual share capital above Rs 2 lakh in the last quarter. One financial institution held 100 shares in the firm.

However, the long-term financial performance is not in line with the stellar rise in stock of the firm. The firm incurred losses in seven quarters preceding the quarter ended March 2021.

In the short term, it seems to be performing well helping the stock deliver stellar returns. In September 2021 quarter, the firm logged a profit of Rs 0.82 crore against Rs 0.08 crore loss in the corresponding quarter of previous fiscal.

Sales came in at Rs 14.96 crore  in Q2 against  Rs 0.39 crore in the September quarter of previous fiscal.

On an annual basis too, the firm has logged strong earnings performance.

It clocked a profit of Rs 0.37 crore for the fiscal ended March 2021 against a loss of Rs 0.46 crore in the fiscal ended March 2020. Net sales rose to Rs 6.99 crore in the last fiscal against Rs 1.30 crore for the fiscal ended March 2020

The company has outclassed its peers in terms of market returns in the last six months.

While Ruchi Soya share has lost 14%, share of Agro Tech Foods Ltd has fallen 1.31% in six months.  Share of another peer Gokul Agro Resources has climbed 59% during the period.

Manorama Industries Ltd stock has clocked 24.4% rise in the last six months.

Suraj Industries is engaged in production of edible oil. The firm offers edible oil and vanaspati ghee under the brand name Aangan and Apna.

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