Multibagger stock hits 52-week high after Q1 results 2023. Axis Securities give ‘buy’ tag despite 2700% return in 3-year
Multibagger stock: JTL Industries shares are one of those stocks that have delivered whopping return to its positional investors in post-Covid stock market rebound. After making its bottom in March 2020, this logistics stock has risen from around ₹14.50 to ₹404 apiece levels on BSE, logging near 2,700 per cent rise in this time. JTL Industries share price today opened upside and went on to hit a new life-time high of ₹404 apiece on NSE.
The multibagger stock has been in uptrend after announcement of Q1 results 2023. After the announcement of Q1 results for the financial year 2023-24, Axis Securities has given 'buy' tag to this multibagger stock despite 2,700 per cent rise in last three years. As per the Axis Securities research report, the multibagger stock has potential to go up to ₹470 apiece levels in long term.
On reason for being bullish on JTL Industries shares, Axis Securities said, ": With the phase-wise volume expansion progress, we model Revenue/EBITDA/PAT CAGR of 46%/45%/51% over FY23/25E. We slightly reduce our EBITDA estimates for FY24 by 3% to account for lower Q1FY24 numbers, but keep FY25/26 estimates largely unchanged from our initiation note on 27th Jun’23." The brokerage went on to add that JTL Industries' (JTL) EBITDA missed the estimates on account of higher-than-expected inventory losses. Revenue at ₹505 Cr (up 37%/7% YoY/QoQ) stood in line with teh brokerage house estimates.
The company reported its sales volume earlier, which stood at 77.34Kt, up 52% YoY but down 4% QoQ on seasonally strong Q4FY23. VAP share improved to 42% in Q1FY24 vs. 24% in Q4FY23 and 31% in Q1FY23.
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