Indo Count Industries shares hit fresh 52-week high on highest-ever quarterly revenue in Q2
Indo Count Industries surged over 8% to hit a new 52-week high of ₹302.80 apiece on Tuesday. This impressive performance came on the heels of the company's September quarter earnings, which exceeded market expectations. The company released its Q2FY24 numbers after market hours on Monday, reporting the highest-ever quarterly revenue of ₹1,033 crore, crossing the ₹1,000 mark in revenue for the first time in history, on the back of a surge in volumes.
During the same period of last year, the company reported a revenue of ₹849 crore. The Q2FY24 revenue shows a growth of 22% as compared to last year. Also Read: Multibagger: Pearl Global Industries stock zooms 220% in 6 months; up 737% in 3 years The company's volume jumped 40% YoY to 28.7 million metres in Q2 FY24, prompting it to revise its FY24 volume guidance to 90–100 million metres, up from the previous range of 85–90 million metres.
Further, it reported its record-high EBITDA of ₹189 crore for Q2 FY24, showcasing a substantial 57.5% improvement compared to the ₹120 crore recorded in the same quarter the previous year. The EBITDA margin also expanded by 420 basis points, reaching 18.3% in Q2 FY24. On the bottom line, the company reported a 70.14% jump in its consolidated net profit to ₹114 crore as compared to a net profit of ₹67 crore in the corresponding quarter of last year.
The company's shares this year so far have delivered a multi-bagger return of 119.25% as the stock surged from ₹135 per share to ₹296. Over the past five years, the stock has delivered an impressive return of 371%. Also Read: Welspun Living shares rise 107% in seven months; is there more upside left? Indo Count Industries is a small-cap stock with a market capitalisation of ₹5,862 crore.
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