Quarterly Results: The net sales stood at Rs 98.89 crore, up 6.48 per cent; profit before tax stood at Rs 12.92 crore, up 420.50 per cent and profit after tax of Rs 11.70 crore, up 340 per cent in Q1FY24 compared to Q1FY23.  

Quarterly Results: The Net sales stood at Rs 98.89 crore, up 6.48 per cent; Profit before tax stood at Rs 12.92 crore, up 420.50 per cent and Profit After Tax of Rs 11.70 crore, up 340 per cent in Q1FY24 compared to Q1FY23.  

Earlier, Genesis Gas Solutions Ltd, a subsidiary of Vikas Lifecare Ltd entered into joint venture agreement with Indraprastha Gas Limited (IGL) to set up an integrated smart meter manufacturing plant with a capital expenditure of Rs 1,100 million (Rs 110 crore).

The venture will establish a manufacturing facility to produce gas meters. It will assemble and manufacture SKD and FM gas meters, and sell, distribute, and supply gas meters, HHU, and DCU. It will also assemble, manufacture, sell, distribute, and supply other meters, including water and utility meters.

Talking about the financials, the company has a market cap of Rs 485.68 crore. The net sales increased by 14.56 per cent to Rs 118 crore in Q4FY23 over O4FY22. In FY23, net sales skyrocketed by 58.14 per cent to Rs 476 crore compared to FY22.

The net sales increased by 14.56 per cent in Q4FY23 over Q4FY22. In FY22, net sales increased by 48.17 per cent compared to FY21.

The stock gave multibagger returns of 325 per cent in just 3 years with a PE of 13.64x and an ROE of 21.76 per cent. 

This penny stock under Rs 5 is set to revolutionize the Indian market with the launch of the first-ever integrated smart meter manufacturing plant.

The revenue from operations of this BSE-listed firm jumped more than 280 per cent to Rs 92.17 crore in June 2022 quarter, which was Rs 24.1 crore in the corresponding quarter, a year ago.  

Through the qualified institutional placement (QIP), the diversified-listed conglomerate will be launching Rs 50 crore from the investors.