2:1 Bonus Share & PAT jumps 245 per cent: Heavy buying multibagger penny stock under Rs 60; hit back-to-back upper circuits – record date inside!

The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 27.66 per share and a whopping 290 per cent in 3 years.

Founded in 2012, DRC Systems India Ltd is a certified IT services and consultancy firm, offering a comprehensive suite of digital solutions from software development and mobile apps to AI, automation, cloud services, and marketing. Recognized for excellence by CMMI Level 3 and Adobe Bronze Partner status, DRCSIL delivers tailored solutions for businesses seeking digital transformation.

The Board of Directors of the company have approved the issue of bonus shares in the ratio of 2:1 i.e., 2 new bonus equity shares of Rs 1 each for every 1 existing equity share of Rs 1 each fully paid up held as on the record date. The company fixed the record date for bonus shares as Tuesday, February 27, 2024.

Today, shares of DRC Systems India Ltd hit a 2 per cent upper circuit to Rs 55.50 per share from its previous closing of Rs 54.45. In recent, trading sessions the stock has been hitting back-to-back upper circuits. The stock’s 52-week high is Rs 68 and its 52-week low is Rs 27.15.

The company has a market cap of Rs 245 crore. According to the Quarterly Results, net sales increased by 37 per cent to Rs 13.56 crore and net profit increased by 245 per cent to Rs 5.10 crore in Q3FY24 compared to Q2FY24. In its annual results, net sales increased by 32 per cent to Rs 13.56 crore and net profit increased by 856 per cent to Rs 5.10 crore in FY23 compared to FY22.

The shares of the company have an ROE of 33 per cent and an ROCE of 32 per cent. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 27.66 per share and a whopping 290 per cent in 3 years.