BackThis smallcap stock turns ₹1 lakh into over ₹4 lakh corpus in 1 year; do you own it?
The returns are tremendous, even better than the interest rates that are earned on traditional saving schemes. Investors' wealth has more than tripled in this stock thanks to this week's strong bull performance where it clocked a new 52-week high. The company is a smallcap stock.
PremiumStocks that are cheaper, and give impressive returns in a shorter period of time are like the icing on the cake you need as an investor. One such stock is Filatex Fashions which is in the socks business. It is an affordable stock of less than ₹19 managing to give triple-digit returns in a year. The returns are tremendous, even better than the interest rates that are earned on traditional saving schemes. Investors' wealth has more than tripled in this stock thanks to this week's strong bull performance where it clocked a new 52-week high. The company is a smallcap stock.
On Friday, Filatex shares closed at ₹17.90 apiece up by 3.47% on BSE. The stock had touched a new 52-week high of ₹18.15 apiece earlier in the day -- which was also its 5% upper circuit.
Last year, on November 4th, the stock was not even close to ₹5 apiece on BSE. It was somewhat around ₹4.19 apiece level. Investors who bought the stock on this day, are now sitting on gains of 333.17% (taking into consideration the new 52-week high).
Let's suppose, an investor invested ₹1 lakh in this stock on November 4, 2021, then as of now, his or her investment has risen by more than ₹4.33 lakh (gains of ₹3.33 lakh + investment amount) in a span of 1 year.
The stock had touched a 52-week low of ₹3.86 apiece on November 25 last year. Taking into consideration the 1-year low, currently, Filatex Fashions shares have skyrocketed by a breathtaking 370.21% on BSE. Those who invested ₹1 lakh during this time, have now recorded over ₹3.70 lakh gains in less than a year -- taking their corpus to over ₹4.70 lakh.
The stock performance in Filatex Fashions comes after it proposed to buy a majority stake of 51% in Sri Lanka-based Isabella Private Limited on November 3.
The company informed the stock exchanges that it "is in the process of reaching certain preliminary understandings for the proposed Acquisition/ Subscription of Shares of Isabella."
Isabella is in the business of manufacturing apparel and related products in Sri Lanka.
Also, in another exchange filing, Filatex announced a board meeting to be held on November 12 for considering financial results for the quarter that ended September 30, 2022. Also, the board may consider any other business.
Last month, the company received approval from the board for raising funds through the issuance of unsecured and/or secured, listed and/or unlisted, Foreign Currency Convertible Bonds (FCCBs) or other similar security denominated in foreign currency(ies) or a combination thereof in one or more tranches, not exceeding $100 million.
In the first quarter of FY23, the company posted a net profit of ₹3.66 lakh compared to a PAT of ₹5.41 lakh in the June 2021 quarter. Notably, in March 2022 quarter, the company's profit was around ₹2.52 crore.
However, in Q1FY23, the company's revenue from operations stood at ₹37.98 crore --- higher than ₹6.47 crore in Q1FY22 --- but lower than ₹66.23 crore in Q4FY22.
This Indian-based company is engaged in manufacturing socks and cotton products activities. Based in Telangana, the company supplies socks using technologies and infrastructure from Italy, Korea, and China. Some of its brands are Tuscany, Smart Man, Bella, and Reunion.
Also, the company has a strong client base including biggies like Maxwell (VIP Group), Fila India, Adidas, Park Avenue, Tommy Hilfiger, and Metro among others. Filatex Fashions also supplies socks to license-holder for brands like Walt Disney, Warner Brothers, Mickey Mouse, Simpsons, and more 32 brand licenses. The company was founded in 1994.
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