Multibagger Stock: Gujarat Toolroom’s shares hit upper circuit of 5 per cent last Friday. This stock closed at Rs 14.88 on BSE. In fact, the company has recently raised Rs 95.66 crore from Qualified Institutional Placement (QIP). This is the second such announcement made by the company in a span of 2 months. Earlier in October also, the company had completed QIP of Rs 50 crore at an issue price of Rs 11.50 per share. The market cap of the company is Rs 345.31 crore. The stock’s 52-week high is Rs 45.97 and 52-week low is Rs 10.75.
Company raised Rs 96 crore from QIP
Gujarat Toolroom’s recent QIP raised ₹95.66 crore, in which stake was allotted to institutional investors such as Bridge India Fund, Eminence Global Fund and Multitude Growth Funds Ltd. The issue price for QIP was Rs 13.30 per share (including premium of Rs 12.30 per share), the company said in an exchange filing.
company financial
Talking about financial performance, from a modest revenue of ₹2 crore in March 2023, it grew to ₹555 crore by March 2024. A similar increase was seen in the company’s profits, which increased from ₹2 crore to ₹76 crore in the same period. Furthermore, the company’s net profit reached ₹73 crore in March 2024, compared to only ₹1 crore in the previous year.
How have the shares been performing?
In January 2022, the price of one share of the company was only Rs 1.56, but today it has increased to Rs 14.88. This means that investors have got a return of 850 percent in a period of about three years.
Gujarat Toolroom based in Ahmedabad deals in manufacturing and assembling of industrial machines and equipment. The company started its business in the year 1991. This company is in the business of development and operation of mines, minerals and other related activities. Currently it is providing mining services and its management is working on other business opportunities.
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