715 per cent jump in net profit in this multibagger low PE stock; Company reports stellar quarterly & half-yearly results after 150 per cent dividend!

The stock has a PE of 7.47x whereas industry PE is 35.9x and gave multibagger returns of over 100 per cent from its 52-week low of Rs 68.75 per share.

Manaksia Ltd, a leading exporter of steel, aluminium and packaging products announced Quarterly Results (Q2FY24) and half-yearly results (H1FY24) for the fiscal year 2024. Here are the details:

Standalone Results

According to the quarterly results, the net sales increased by 178 per cent to Rs 5,708.58 lakh and net profit increased by 715 per cent to Rs 531.76 lakh in Q2FY24 compared to Q2FY23. According to the half-yearly results, the net sales increased by 161 per cent to Rs 13,385.38 lakh in H1FY24 compared to H1FY23. The company reported a net profit of Rs 977 lakh in H1FY24 compared to a net profit of Rs 8,044.61 lakh.

Consolidated Results

According to the quarterly results, the company reported net sales of Rs 19,883.13 lakh in Q2FY24 compared to net sales of Rs 26,159.04 lakh in Q2FY23. Additionally, the company reported net profit of Rs 2,401.56 lakh in Q2FY24 compared to net profit of Rs 2,483.60 lakh in Q2FY23. According to the half-yearly results, the company reported net sales of Rs 43,455.46 lakh in H1FY24 compared to net sales of Rs 57,033.76 lakh in H1FY23. Additionally, the net profit increased by 22 per cent to Rs 4,612.57 lakh in H1FY24 compared to Rs 3,777.96 lakh in H1FY23.

Earlier, the company paid a final dividend of 150 per cent (i.e., Rs 3 per equity share having a face value of Rs 2 each) on the equity shares of the Company for the Financial Year 2022-23. The dividend ex-traded on September 14, 2023.

Today, shares of Manaksia Ltd gained 1.81 per cent to Rs 137.50 per share from its previous closing of Rs 135.05 per share. The stock’s 52-week high is Rs 194.05 and its 52-week low is Rs 68.75.

Incorporated in 1984, Manaksia Ltd is primarily engaged in the trading and. The company has 4 subsidiaries: MINL Ltd, Dynatech Industries Ghana Ltd, Manaksia Overseas Ltd and Manaksia Ferro Industries Ltd. Additionally, it has 2 step-down subsidiaries, namely Mark Steels Ltd and Jebba Paper Mills Ltd.

The stock has a PE of 7.47x whereas industry PE is 35.9x and gave multibagger returns of over 100 per cent from its 52-week low of Rs 68.75 per share. Investors should keep an eye on this multibagger Small-Cap stock under their watchlist.