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Business News/ Markets / Stock Markets/  Locked in 20% upper circuit multibagger stock reports 155% jump in net profit: Do you own?

Locked in 20% upper circuit multibagger stock reports 155% jump in net profit: Do you own?

  • Refex Industries is a small cap company that recorded a market cap of 942.42 Cr during Friday's closing session.

Refex Industries' share price rose by 71.10 on the NSE, hitting the 20% upper circuit and closing at an all-time high of 426.65 a piece.

Refex Industries is a small cap company that recorded a market cap of 942.42 Cr during Friday's closing session. Refex Industries' share price rose by 71.10 on the NSE, hitting the 20% upper circuit and closing at an all-time high of 426.65 a piece. The stock recorded a total volume of 714,413 shares compared to the 20-Day average volume of 353,945 shares. This comes after the company reported strong Q4 and FY23 performance.

“The Board of Directors has recommended a final dividend of Rs. 2/- (20%) per equity share of Rs.10/- each for the financial year ended March 31, 2023 subject to the approval of shareholders in the ensuing Annual General Meeting," said Refex Industries in a stock exchange filing.

The company reported over three-fold jump in its net income which was 1,637 crore for FY23 compared with 448 crore for 2021-22, registering a gain of 264.70% YoY. During the financial year ended March 2023, its net profit stood at 116.06 Cr up by 155.70% YoY from 45.38 Cr during the quarter ended March 2022. Refex Industries said its EPS stood at 53.84 in 12MFY23 up by 149.14% YoY from 21.61 in 12MFY22.

During the quarter ended March 2023, the company reported a net income of 631.97 Cr up by 254.82% YoY from 178.11 Cr in the quarter ended March 2022. During Q4FY23 its net profit stood at 50.67 Cr up by 111.05% YoY from 24.01 Cr in Q4FY22 and its EPS jumped by 100.17% YoY from 11.43 to 22.88.

The stock touched a 52-week-high of 426.65 on Friday (19-May-2023) and a 52-week-low of 98.45 on (20-Jun-2022), indicating that after hitting a lifetime high on Friday, the stock was seen trading above 333.36% above the 1 year low. The stock went up from 14.29 to its current market price in the previous five years, resulting in a multibagger return of 2,885.65%. The stock price has climbed from 43.68 to the current market price in the previous three years, resulting in a multibagger return of 857.58%. In the previous year, the stock has risen from 120.35 to the present market price, resulting in a 254.51% multibagger return. So far in 2023, the stock has gained 53.44% year to date. During Q4FY23, the company reported promoters shareholding of 52.70%, FIIs stake of 0.07% and a public stake of 47.23%.

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ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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