Stock market today: Small-cap stock under ₹100 jumps 8% after Q1 results 2024

Stock market today: Rajnish Retail share price witnessed strong buying on Thursday despite high volatility in the Indian stock market. Rajnish Retail share price today opened with an upside gap and touched an intraday high of ₹64.50 apiece on the BSE, logging an intraday rise of nearly 8 per cent against Wednesday's close price of ₹59.71 apiece. The small-cap stock under ₹100 was under the radar of Dalal Street bulls after the declaration of strong Q1 results 2024 on Wednesday. The multibagger stock that has given a 105 per cent return in one year reported a quarter-on-quarter (QoQ) rise of over 230 per cent in revenue from operations.

Rajnish Retail Q1 results 2024

For the quarter ended 30 June 2024, revenue from operations was reported at ₹133.37 crore, a growth of 231% QoQ. EBITDA jumped 49% QoQ, from R 4.6 crore (Q4FY24) to ₹6.9 crore (Q1FY25). PAT grew 61% QoQ and was reported at ₹5.15 crore (Q1FY25).

Rajnish Retail Limited has achieved significant milestones, demonstrating robust performance across all key metrics. Further, the revenue has seen impressive year-on-year growth, driven by strategic expansion and a customer-centric approach. The company now provides an extensive selection of over 100+ high-quality products in multiple states.

Capex expansion

"The company has invested in cutting-edge technology and enhanced its supply chain efficiency, ensuring seamless operations and superior product availability. The company's expansion into new markets and the introduction of diverse product lines have driven its success. Looking ahead, Rajnish Retail Limited is committed to maintaining this growth trajectory. The company has ambitious plans to penetrate the FMCG sector further, leveraging its extensive distribution network and strong brand reputation. Our strategic vision includes expanding product portfolio, strengthening retail presence, embracing digital transportation and sustainable practices," company management claimed while declaring the quarterly numbers for the first quarter of the current fiscal.

Recently, the company expanded its portfolio by venturing into the beauty and wellness industry by launching a new salon. This strategic move aims to diversify our business and capitalise on a growing market. Urban Salon, a brand of Rajnish Retail Limited, has started a new Shop in Evershine Nagar, Malad District of Mumbai. Urban Salon has opened a beauty and wellness shop. The beauty and wellness industry is witnessing robust growth, driven by increasing consumer spending on personal care and grooming services. The salon will be equipped with state-of-the-art amenities and staffed by experienced professionals committed to delivering exceptional service.

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