Mauritius-based FIIs buy stake in multibagger stock, rises over 150% in 6 months

As per the NSE data, Aegis Investment Fund bought 5 lakh shares in Tirupati Forge at a price of ₹22 per share. The transaction amounted to ₹1.1 crore.

Although Tirupati Forge is the latest investment by Aegis Investment Fund, however, it is not the only stock that the fund house bought so far in the currency month.

Recently, on December 7, Aegis Investment Fund also purchased a stake in SecUR Credentials on NSE. The fund house bought 1 lakh equity shares in SecUR at a price of ₹115 per share — aggregating to ₹1.15 crore.

Moving on, the Tirupati Forge stock ended at ₹22.65 apiece up by 0.44% on Tuesday compared to the previous day. The company’s free float market cap on NSE is around ₹90.76 crore.

Last week, Tirupati Forge stock had touched a new 52-week high of ₹24.50 apiece on NSE before thereon as investors cashed in their gains. The stock is already a multi-bagger in a span of six months.

From its 52-week low of ₹9.05 apiece which was recorded on June 21, 2022, the stock has skyrocketed by a whopping 150.3% on NSE.

Earlier this month, the company announced receiving approval from USA top leading company to buy a mass quantity of Flanges, Forged Fittings, and other components and they also appreciated the current setup and facilities of the company.

Accordingly, Tirupati Forge is set to begin the supply of goods in mass for the year 2023, which may result in an increase of approximately 25 to 30% in revenue due to the addition of new customers.

Gujarat-based Tirupati Forge is engaged in manufacturing & exporting of forged and machined components like Auto Components, Bearings, Gears, Flanges, Spindles, Hollow Jobs, Axles, Stub Ends, etc. The company has in-house testing and an R&D laboratory to ensure the quality of the raw material & product is maintained. It got listed on NSE’s Emerge platform in October 2017. The company was incorporated in 2012.

During the second quarter of FY23, the company’s net profit advanced to ₹3.19 crore compared to ₹26.80 lakh in Q2 of FY22. Also, the company’s total income from operations jumped to ₹26.53 crore versus ₹18.27 crore in Q2FY22.

In FY22, the company’s total revenue rose sharply by 288.33% to ₹89.30 crore compared to ₹30.97 crore in FY21, while its PAT zoomed by a huge 1,580.26% to ₹6.22 crore in FY22 against merely ₹39.38 lakh in FY21. EBITDA as well increased by 404.79% to ₹11.66 crore versus ₹2.88 crore in FY21. EBITDA margin improved robustly to 13.17% in FY22 compared to 9.35% in FY21.

Last year, the company made a tie-up for supplying fire protection items in bulk qty to one of the leading USA customer.

Over the year, Tirupati Forge continues to invest in state-of-the-art facilities harbouring World-class capacities and capabilities. Notably, its facility includes fully Automatic Forging and Machining Lines. Also, the company has already installed 630 tons of Lasco Press Line covering a large spectrum for the hot metal forging of Solid and Hollow parts.