High ROE and ROCE multibagger stock: This Mini Ratna company signs a MOU with BSF!
The net sales skyrocketed 142 per cent and net profit skyrocketed 255 per cent in FY22 over FY21.
IRCTC signed a MoU with BSF for comprehensive train booking and on-board catering services to BSF personnel.
The following are the main deliverables of the MoU:
1. Booking of Trains and Coaches on Full Tariff Rate for the movement of BSF troops through Indian Railways by IRCTC.
2. Supply and service breakfast, lunch and dinner by IRCTC, in accordance with the schedule of running of trains and Emergency Meals to meet contingencies during the late running of trains.
3. Supply and service of packaged drinking water with each meal served to BSF troops by IRCTC.
Indian Railway Catering and Tourism Corporation Ltd (IRCTC) is a Mini Ratna (Category-I) central public sector enterprise under the Ministry of Railways, Government of India. The President of India owns the maximum number of stakes in this company (62.40 per cent) as of March 2023.
According to the consolidated annual results, the net sales skyrocketed 142 per cent and net profit skyrocketed 255 per cent in FY22 over FY21.
On Friday, shares of IRCTC Ltd surged 1.91 per cent to Rs 617.50 per share with intraday high of Rs 619.40 and an intraday low of Rs 608.25.
The stock has a ROE of 42.05 per cent and a ROCE of 51.3 per cent and generated multibagger returns of 133.90 per cent in just 3 years. Investors should keep an eye on this Mini Ratna company.
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