Penny stock under Rs 10: Company Expands Global Footprint with Two New Customers in South Africa; Expecting USD 1 Million Annual Revenue from New Orders

The stock gave multibagger returns of 360 per cent in 3 years and a whopping 800 per cent in 5 years.

Sprayking Limited, a prominent manufacturer of plumbing fittings based in Jamnagar, India, has announced a significant expansion into South Africa with the acquisition of two new customers. Currently in the sampling phase, the company anticipates commencing order fulfilment within the next two months, projecting an estimated annual revenue of USD 1 million from these partnerships. This strategic move highlights Sprayking Limited's increasing global recognition as a dependable provider of premium plumbing solutions and demonstrates its commitment to broadening its international presence to serve a diverse customer base.

Formerly known as Sprayking Agro Equipment Limited, the company has rebranded itself as Sprayking Limited, a change that signifies its evolving business strategy and broader market aspirations. This strategic shift comes as Sprayking expands its product offerings and explores new opportunities within the market. Established in 2005, Sprayking Limited has grown from its roots in agricultural sprayer parts and garden fittings to become a renowned manufacturer specialising in a diverse range of brass components and copper forging products, including fittings, forging equipment, transformer parts, and customised brass components.

Sprayking boasts a truly global presence, serving an extensive clientele across the USA, Europe, Australia, Canada, South Africa, UAE and India. This international reach is underpinned by the company's commitment to high-quality products, extensive technical knowledge, and robust infrastructure, enabling it to effectively penetrate and serve global markets. Furthermore, Sprayking's dedication to innovation is evident in its state-of-the-art Research and Development facility. This cutting-edge centre underscores the company's belief in advancing forging technologies and processes, further cementing Sprayking's position as an industry leader in its operational sphere.

The company has a market cap of over Rs 70 crore. The stock gave multibagger returns of 360 per cent in 3 years and a whopping 800 per cent in 5 years. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.