230 per cent returns: This Ashish Kacholia’s multibagger small-cap stock triples capacity in just two months!
The stock has witnessed significant buying activity as it has given multibagger returns of more than 230 per cent in just 1 year
On Friday, shares of Venus Pipes & Tubes surged more than 1 per cent to trade at an intraday high of Rs 1197.70 apiece on BSE.
The company informed the exchange that it has successfully commenced commercial production of LSAW pipes of 600 MT per month on July 21, 2023. With almost tripling their capacities in the last two months as compared to FY23, the company is all geared up to cater the rising demand for its products among diversified industries, whilst maintaining utmost standards and quality. The company is poised to capture new markets, forge stronger partnerships and continue to raise the bar in terms of product excellence and customer satisfaction.
In March 2023, the company's net sales reached Rs 176.28 crore, showing a remarkable increase of 59.99 per cent compared to the previous year when it was Rs 110.18 crore in March 2022. The EBITDA for March 2023 also demonstrated substantial growth, standing at Rs 22.12 crore, which was 54.25 per cent higher than the EBITDA of Rs 14.34 crore recorded in March 2022. Additionally, the quarterly net profit for March 2023 amounted to Rs 13.43 crore, indicating a significant surge of 66.34 per cent from the previous year's figure of Rs 8.07 crore in March 2022. As of June 30, 2023, the latest shareholding pattern of the company reveals that ace investor held a 1.97 per cent stake in the company.
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Venus Pipes & Tubes Limited is a manufacturer and exporter of stainless-steel pipes and tubes. The company is manufacturing stainless steel tube products in two broad categories - seamless tubes/pipes and welded tubes/pipes under which five categories of products are manufactured namely, stainless steel high precision & heat exchanger tubes, stainless steel hydraulic & instrumentation tubes, stainless steel seamless pipes, stainless steel welded pipes and stainless-steel box pipes.
The stock has witnessed significant buying activity as it has given multibagger returns of more than 230 per cent in just 1 year. Keep a close eye on this trending multibagger stock.
Disclaimer: The article is for informational purposes only and not investment advice.