Micro-cap multibagger stock RMC Switchgear hits new 52-week highs and generates 1,527 percent in a year!

RMC Switchgears Limited’s hits the upper circuit after the stock gained 10% on Tuesday. Additionally, the stock reached a new 52-week high of ₹423.20. The stock has risen by nearly 1,527% during the past one year. The shares of RMC Swtichgear closed at a price of ₹422.5 on the BSE.

The company’s year performance were remarkable. The company’s net profit increased by 1,935.01 percent YoY to ₹11.74 crore. The company’s net sales was ₹125.27 crore, while its operating profit was ₹26.71 crore, reflecting an astounding growth of 329.64 percent YoY.

In the past five trading sessions, RMC Switchgears Limited has also given its shareholders stellar returns of about 32.14%. On the YTD basis the stock soared 62.63%. Additionally, over the past five years, the stock has increased by nearly 560%.

The Chairman & Managing Director Ashok Kumar Agarwal said, “We are pleased to report that the RDSS scheme has exceeded our expectations, presenting robust market opportunities. As a result, we are proud to emerge as leaders in this segment. Anticipating a strong order inflow from H-1 of 2023-24, we are confident that our market position will further solidify. We extend our heartfelt gratitude to all our investors for their trust and contribution to our rapid growth. With your ongoing support, we are confident in achieving our goals and providing substantial returns on your investment.”

Customers of the business include KEI Industries, NCC Ltd, Capital Electec Pvt Ltd, and numerous state-owned government-owned power companies.Over the past five years, the company has produced strong profit growth of 36.0% CAGR. Improvements in the debt equity ratio and the debt service ratio show that the company is better positioned to repay its debts thanks to lower levels of debt and improved cash flow. Orders in hand totaling Rs. 263.78 crores (as of now) are expected to be fulfilled in FY 2023–2024.

RMC Switchgears Limited designs and manufactures energy metres, LT/HT Distribution Boxes and Panels, junction boxes, feeder pillars, and other power distribution and circuit protection switchgear using mild steel, stainless steel in fabrication and deep-drawn process, along with sheet moulding compound and bulk moulding compound (DMC) materials.

Investors should keep an eye on this stock since it has had extraordinary growth.

Updated: 27 Jun 2023, 06:31 PM IST