Ashish Kacholia portfolio: Multibagger stock Balu Forge hits lifetime high after Q3 results 2024
- Multibagger Ashish Kacholia portfolio stock has delivered to the tune of 235% in the last one year
Ashish Kacholia portfolio: Shares of Balu Forge Industries Ltd are one of the multibagger stocks that the Indian stock market has delivered in the last one year. During this time, this Ashish Kacholia portfolio stock has risen from around ₹88 to ₹301 apiece level, registering to the tune of 235 percent appreciation in this time. However, it seems that the multibagger stock still possesses some upside potential.
Balu Forge share price today opened upside and went on to touch an intraday high of ₹301 per share on the BSE. This intraday high of ₹301 per share tuned out a new lifetime high of the multibagger stock. Incidentally, the small-cap stock touched a new high after the announcement of Q3 results 2024 on Saturday.
In the third quarter of the current financial year 2023-24, Balu Forge reported revenue from operations at ₹147 crore, logging YoY growth of 55.7 percent against ₹89.4 crore Q3FY23 revenue from operations.
Balu Forge Q3 results 2024
In the October to December 2023 quarter, Balu Forge's total income stood at ₹148.94 crore, logging YoY growth of 55.7 percent against the total income of 92 crore in the corresponding period of the previous financial year. The company's EBITDA (excluding other income) in Q3FY24 stood at ₹32.7 crore, around 72 percent higher than an EBITDA of 17.5 crore in the third quarter of the previous fiscal. The company's EBITDA Margins improved from 19.58 percent to 22.24 percent year-on-year.
Also Read: Stock market today: SBI share price on cusp of breakout after Q3 results 2024. Buy or wait?
In the October to December 2023 quarter, the company's PAT (Profit After Tax) stood at 25.45 crore, which is more than 103 percent higher than its PAT of ₹11.45 crore in Q3FY23. PAT Margins of the company improved from 12.81 percent to 17.31 percent YoY in the October to December 2023 quarter.
In terms of 9M performance, revenue from operations increased by 96.5% and stood at ₹398.68 crore in 9M FY24 compared to ₹202.86 crore in 9M FY23. EBITDA increased by 191.1% from ₹29.11 crore in 9M FY23 to ₹84.74 crore in 9M FY24, and margins improved to 21.25% from 14.35%. PAT increased by 176.2% and stood at ₹65.34 crore in 9M FY24 compared to ₹23.67 crore in 9M FY23, margins improved from 11.67% to 16.40% during the same period.
Ashish Kacholia's shareholding in Balu Forge
As per the shareholding pattern of Balu Forge Industries Ltd for the October to December 2023 quarter, Ashish Kacholia owns 21,65,500 Balu Forge shares, which is 2.11% of the total paid-up capital of the company.
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