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Business News/ Markets / Stock Markets/  NSE SME stock jumps 30% in five days after announcement of Q4 results

Accuracy Shipping shares have been in uptrend after ushering in June 2023. Interestingly, Q4 results of the small-cap company was declared at the end of May 2023. So, the NSE SME stock has been rising after the announcement of Q4FY23 results. In last five sessions, this small-cap SME stock has risen from around 10.70 to 14 (Friday high on NSE), logging more than 30 per cent rise in this time.

Accuracy Shipping share price ended on Friday or 2nd June 2023 at 10.70 apiece levels on NSE. After that the small-cap stock ended at 10.85 on Monday and Tuesday this week. On Wednesday, the small-cap SME stock ended at 11.50 levels. On Thursday, the SME stock finished higher at 13.15 per share levels. During early morning deals on Friday, this small-cap stock hit intraday high of 14, delivering more than 30 per cent return to its shareholders in last five sessions.


Accuracy Shipping results

At the end of May 2023, this SME company had declared Q4 results in which the company reported more than 225 per cent jump in net profit to 5.71 crore against the corresponding period in previous financial year. On sequential quarter-on-quarter (QoQ) basis, this small-cap company has registered whopping 5800 per cent rise in net profit. However, the company posted dip in net revenue on both YoY and QoQ basis. In YoY basis, SME company posted near 30 per cent dip in net revenue whereas on QoQ basis, its net revenue went off to the tune of near 16 per cent.

In the financial year 2020-21, the SME company had reported sales revenue at 365.23 crore, which is now at 818.09 crore after the end of financial year 20222-23. The company has been busy repaying its debt and on the track of becoming a debt-free company.

In February 2023, this NSE SME stock has traded ex-split in 1:10 ratio. This means, the company divided its shares into 10 parts leading to rise in shareholding of the shareholders to ten times.

Accuracy Shipping Limited is a one stop solution for all Logistics requirements. The company is exploring growth options. With the help of its vast and well settled network, the company is able to provide its customers hassle free services across the board. The company is Catering to diversified industry to accelerate growth, and adding new streams of revenue through backward & forward integration to strengthen our bouquet of logistical services. It has strived to become an “End-to-End Logistics Player", and looks to benefit from large scale presence across value chain by offering logistical solutions under single roof i.e. from Point of Origin to Point of Destination.

Accuracy Shipping share price history

The NSE SME IPO was launched in June 2018 and the stock was listed on NSE SME exchange on 22 June 2022 at a premium of 4 per share. The IPO was offered at 81 to 84 price band and the stock listed at 88 apiece levels.

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Updated: 09 Jun 2023, 03:04 PM IST
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