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Multibagger Penny stock under Rs 5: This Penny stock reported 10 times jump in net profit

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Multibagger Penny stock under Rs 5: This Penny stock reported 10 times jump in net profit

 

Vikas Ecotech Ltd, a prominent chemical firm, announced its quarterly and yearly results for the fiscal year ending March 31, 2023.

Q4FY23 Financial Highlights: 

  • Revenue from the business amounted at Rs 68.33 crore, a reduction from Rs 83.09 crore in the previous year’s equivalent period.
  • PBT was Rs 2.37 crore, up 78.20 percent year on year.
  • PAT was Rs 1.79 crore, a 45.53 percent increase. QoQ

 

FY23 Financial Highlights:   

  • Revenue from the operation was Rs 403 crore, a 61.20 percent increase year over year.
  • PBT was Rs 10 crore, a 400% increase year on year.
  • PAT was Rs 10 crore, a 900% increase year on year.

In addition, in conjunction with Nice Apartment Constructions Pvt Ltd, the firm has entered the field of Green-Enviro-friendly Infrastructure Development Projects. The projected project cost of the targeted projects is around Rs 115 crore, which includes the cost of land and construction.

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Vikas Ecotech shares fell 1.27 percent to Rs 3.10 a share on Monday, from a previous close of Rs 2.83, with a day’s high of Rs 3.10 and a day’s low of Rs 2.88.

Vikas Ecotech Limited primarily manufactures specialty chemicals with an emphasis on additives and specialty polymer compounds. In the fiscal year 2022-2023, the corporation lowered its debt.

In just two years, the stock delivered multibagger gains of 160%. This micro-cap stock should be monitored by investors.

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