Lloyds Enterprises: Up 2337%, this penny stock turned ₹1 lakh into ₹24 lakh in 4 years

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₹1.19 in March 2020 to around ₹28.8 currently. This implies a return of almost 2337%. An investment of ₹1 lakh in this stock in March 2020 would have turned into over ₹24 lakh now.

Lloyds Enterprises Limited trades in iron and steel products in India. It also designs and manufactures heavy equipment, machinery, and systems for hydrocarbon, and oil and gas sectors, as well as steel plants, power plants, nuclear plant boilers, turnkey projects, etc. The company was formerly known as Shree Global Tradefin Limited and changed its name to Lloyds Enterprises Limited in September 2023.

Lloyds Enterprises Limited was incorporated in 1986 and is headquartered in Mumbai, India. The stock has surged over 333 percent in the last 1 year and lost over 24 percent in 2024 YTD, giving negative returns in 2 of the 3 months this year so far. It has shed over 24 percent in March so far, after an over 3 percent decline in February and an over 3 percent surge in January this year.

Currently trading at ₹28.8, the stock is almost 40 percent away from its record high of ₹47.75, hit on October 17, 2023. Meanwhile, it has soared over 371 percent from its 52-week low of ₹6.12, hit on March 29, 2023. The substantial surge in value indicates a robust wave of market confidence and favorable sentiment towards the stock, marking a noteworthy achievement for the company in the present market conditions.

In the December quarter (Q3FY24), the company posted a significant multifold surge in its net profit at ₹48.20 crore as against ₹1.27 crore in the year-ago period. Meanwhile, the company's revenue also soared to ₹122.72 crore versus ₹1.81 crore in the same period of the previous fiscal year. As per ICICI Direct's analysis, the company is experiencing an