Lakhpati Stock: Rs 10000 becomes Rs 1.68 LAKH in 1 year
lakhpati stock: rs 10000 becomes rs 1.68 lakh in 1 year
Lakhpati Stock: Many stocks in the share market double investors’ money in a year, while some even quadruple their investments. However, only a select few achieve returns that quadruple the already quadrupled returns. This simply means, more than a sixteen-fold increase in investment. Today, we’re going to tell you about one such stock. This stock has been consistently rising, running at a furious pace. Investors in this steel company’s stock have earned returns of nearly 1,600 percent in just one year.
The stock under discussion is Jai Balaji Industries. The said company has a market cap of Rs 16,819.16 crore, as on April 30, and is a constituent of S&P BSE SmallCap.
Lakhpati Stock: Rs 10000 turned into Rs 1.68 lakh
The stock has delivered incredible returns, jumping by 1,583.5 percent from Rs 61.05 to Rs 1,027.75 since May 2, 2023. To put it in perspective, if someone invested Rs 10,000 in this stock last year, it would now be worth Rs 1,68,350 or Rs 1.68 lakh.
The stock started its sharp upward rally since July 2023, and since then it has risen consistently for eight months till February 2024. However, lately, the stock has been under consolidation, correcting over 21 per cent from its 52-week high of Rs 1,307 on BSE, touched on February 27, 2024.
Looking from a long-term perspective, the stock delivered returns of 3,215 per cent in the last five years, and 6,155 per cent returns in the past 10 years, as per BSE website.
Jai Balaji Industries Company Profile
Jai Balaji Industries Limited, headquartered in Kolkata, India, has been in operation since 1999. The company specialises in manufacturing and distributing a range of iron and steel products, including sponge iron, pig iron, TMT bars (marketed as Balaji Shakti), and more. Moreover, the company exports its products globally.
As of March 31, 2024, the majority of the shares in the company, 60.80 per cent, are owned by the promoters. Foreign portfolio investors hold 3.05 per cent and domestic institutional investors hold 0.07 per cent of the shares, while non-institutional shareholders own 36.07 per cent.
Jai Balaji Industries Q4 Results 2024 (Standalone)
Jai Balaji Industries released its Q4 results on April 25, 2024. The company’s revenue increased by 7.05 per cent year-on-year (YoY) to Rs 1,845.60 crore, up from Rs 1,724.01 crore in the previous years corresponding quarter (Q4 FY23).
Profit After Tax (PAT) came in at Rs 272.98 crore vs loss of Rs 13.08 crore, marking a sharp turnaround.
If we look at the past 10 years data, the company has been a loss-making company from FY15 till FY21. However, it turned profitable for the first time in FY22, and since then its trajectory has been moving upward, increasing its profits year over year.
What’s particularly fascinating is that over the past four quarters (from Q1 FY24 to Q4 FY24), the company hasn’t just been profitable, but extraordinarily so, achieving never-seen-before bottom-line incomes in its history.
Although the stock has demonstrated eye-popping returns, it is important to note the inherent risks associated with small-cap stocks. These stocks are known for their high-risk profile and may not be suitable for investors who prefer a cautious approach. It’s advisable that only investors comfortable with high-risk investments consider entering into such stocks, and even then, they should allocate only a small portion of their portfolio to these assets. Seeking advice from a financial advisor before making any changes to the portfolio is highly recommended.
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