The stock price has more than doubled since March 2023 lows, transforming it into a multibagger small-cap stock.

This pharmaceutical juggernaut has not only surged by an impressive 2 per cent, triggering an upper circuit, but it has also clinched a fresh 52-week high at Rs 169.80.

In the month of December itself, the company has received multiple orders. The stock has delivered multibagger returns of nearly 200 per cent in the last one year.

The order focuses on commercializing Electric Vehicle technologies, encompassing vehicle-to-grid, vehicle-to-building, and vehicle-to-load capabilities, demonstrating their commercial viability. The company envisions reaching sales of approximately USD 10 million and above after project establishment.

A new chapter unfolds as the company extends a voluntary delisting offer, seeking to acquire over 6.13 per cent of its equity shares from the public shareholders. The exit price of Rs 31.78 per equity share beckons, with an offer period stretching from December 26, 2023, to April 05, 2024.

From its March 2020 lows of Rs 28.90 to reach Rs 845 as of December 8, 2023, establishing itself as a multibagger stock. An intriguing detail surfaces about the stock as ace investor Vijay Kedia,

The company's meticulous expansion plan includes Phase I, where a capacity of 40,000 MTPA will come to life at an estimated cost of Rs. 1,125 Crores, operational in 27 to 36 months at Odisha. Importantly, the capital expenditure for this phase will be predominantly sourced from internal accruals, supplemented by debt financing. At full utilization of this capacity, Himadri anticipates generating a revenue that is four times the initial capital expenditure, underlining a robust profitability and returns profile.

In a captivating turn of events, the Promoter Group has successfully divested 1.46 crore shares, equating to a 2.91 per cent stake in the company, raking in an impressive Rs 301 crore from the sale. Intriguingly, a significant chunk of the proceeds has been reinvested by the promoters into the company, facilitating the repayment of related party transactions and an unsecured, interest-free loan.

Even at the early hours of Tuesday's trading session, trading volumes have already surged to over 21 lakh shares, compared to the 30-day average volume of 16.29 lakh shares. 

Over the past year, the stock has surged by nearly 87 per cent, and it currently trades at a PE ratio of 10.8x. Notably, Rekha Jhunjhunwala, the wife of the late Shri Rakesh Jhunjhunwala, holds an 8.04 percent stake in the company.