155% rally YTD! Multibagger small-cap stock under ₹100 hits 5% upper circuit
Multibagger small-cap stock under ₹100: Shares of MIC Electronics surged 5% to ₹86.76, driven by strong investor sentiment. The company received approval for its GPS-based systems. The stock has gained 155% over the past year, outperforming the BSE Sensex.
Multibagger small-cap stock: Shares of MIC Electronics, a small-cap stock under ₹100, hit the 5 per cent upper circuit of ₹86.76 on the BSE in trade on Tuesday, December 24, driven by strong investor sentiment and favourable developments surrounding the company.
MIC Electronics, on December 23, announced that the Competent Authority approved the company's Capacity cum Capability Assessment (CCA) for GPS location-based Public Address & Passenger Information System (PAPIS) and LED destination boards for AC and Non-AC ICF and LHB coaches. These approvals follow the stringent specifications outlined in RDSO/CG-18001 (Rev.2), the company said in an exchange filing.
Around 11 am, the stock was trading at ₹86.64 on the BSE, up 4.85 per cent, over its last close of ₹82.63.
MIC Electronics Share Price Performance
MIC Electronics has showcased remarkable performance in the equity market, with its stock climbing 28 per cent over the past six months and delivering an impressive 155 per cent return so far in 2024. In contrast, the BSE Sensex has posted a modest increase of 1.6 per cent in six months and a 9 per cent rise year-to-date (YTD).
The company's current market capitalisation is ₹2,091.02 crore. Its shares trade at a price-to-earnings ratio of 37.08x.
MIC Electronics' Financial Performance
For the September 2024 quarter, the company reported net sales of ₹11.20 crore, representing a significant 57.75 per cent increase from ₹7.10 crore posted in the September 2023 quarter.
Despite the rise in sales, the company’s net profit for Q2 FY25 fell sharply to ₹2.11 crore, marking a 74.63 per cent decline from ₹8.30 crore recorded in Q2 FY24. However, the EBITDA showed a positive trend, growing by 55.24 per cent to ₹3.85 crore in Q2 FY25 compared to ₹2.48 crore in Q2 FY24.
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