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Multibagger stock: After announcement of Q1 results for recently ended June 2022 quarter, Brightcom Group shares have been in uptrend despite weakness in the secondary markets for last two sessions. Extending its post-results rally, Brightcom Group share price today hit upper circuit in early morning session. The digital marketing company's stock has hit upper circuit on 5th successive session delivering near 21 per cent return after announcement of its Q1 results. For information to the readers, Brightcom Group shares are one of the multibagger stocks that Indian stock market has produced in last one year.

As mentioned above, Brighton Group share have been hitting upper circuit since 16th August 2022. So, it has hit upper circuit on 5th day in a row after hitting 5 per cent upper circuit on Monday session. However, the stock has remained under sell-off heat for last few months. It has remained bears' favourite 'sell on rise' stock since April 2022. However, in last few sessions, it has been trying to come out of the consolidation phase. In last six months, it has slipped from around 82 apiece levels to 46.50 per share mark, logging around 45 per cent dip in the scrip. In YTD time, this multibagger stock has nosedived from 102.75 to 46.50 apiece levels, logging near 55 per cent dip in this period.

However, the stock has remained a money-making stock for its shareholders in long term. In last one year, this multibagger stock has ascended from around 17.58 to 46.50 apiece levels, logging near 165 per cent rise in this period. In last 15 months, this stock has risen from around 4 to 46.50 levels, ascending more than 1,000 per cent in this period. In last two years, this multibagger penny stock has surged from 3.50 to 46.50 apiece levels, logging around 1200 per cent return to its shareholders.

Current market cap of this multibagger stock is 9,383 crore and its trade volume on NSE at 12:53 PM on Monday was around 1.01 crore, which is lower from its average 20 days volume of around 1.5 crore. Its 52-week high on NSE is 122.88 per share whereas its 52-week low is 16.71 apiece levels on NSE.

The company had announced its June quarter results on 15th August 2022. In Q1FY23, the digital market company reported 126.38 per cent YoY revenue growth whereas net profit went up 162.66 per cent YoY.

Key highlights of Q1FY23 results of Brightcom Group:

- Brightcom reported a strong quarter, with consolidated revenues of 1480.61 crores and PAT of 277.24 crores for Q1 FY22-23.

- Consolidated revenues rose 126.38 per cent YoY and PAT to 162.66 per cent YoY. Notably, EBITDA also rose by 121.90 per cent YoY.

- Company's Return on Equity (RoE), on an annualized basis has nearly reached 20 per cent.

- Brightcom’s RoE is unleveraged, because the group has zero debt on standalone and consolidated basis.

- The company's consolidated tax rate across all geographies in this quarter was 28.29 per cent.

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Asit Manohar

Chief Content Producer at Live Mint Digital Team
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