Multibagger Stock: Netweb Technologies advanced 147% in just 6 months, up 270% from IPO price
Netweb Technologies, a prominent provider of high-end computing solutions (HCS) in the country, continues its winning streak as its shares hit the 5% upper circuit limit for the second consecutive session on Friday, reaching ₹1852 apiece. This brings them close to their all-time high of ₹1892, with just a 2% difference. This surge in the stock price began after the company reported a strong set of numbers for the March ending quarter and for the full quarter of FY 24.
The positive outcome has lifted investors' sentiment towards the company, driving the stock price higher. Also Read: Ajanta Pharma stock soars over 13.5% on stellar performance in Q4 The company posted its highest-ever quarterly revenue of ₹269 crore, marking a remarkable growth of 116.5% over Q4 FY23. Additionally, it reported its highest-ever quarterly EBITDA of ₹44.4 crore, reflecting a surge of 170.6% over Q4 FY 23, with an EBITDA margin of 16.4%.
Profit after tax also reached an all-time high of ₹29.7 crore, representing a significant increase of 181.8% over Q4 FY 23, with a PAT margin of 11.0%. In terms of full fiscal performance (FY24), the company reported its highest-ever revenue, EBITDA, and PAT at ₹7,36 crore, ₹114.4 crore, and ₹75.9 crore, respectively. In FY 24, the company partnered with NVIDIA as a select manufacturing OEM for the latest-gen AI systems to unlock the potential of AI and high-performance computing.
Moreover, it launched Intel Sapphire Rapids & AMD Genoa-based ‘Make in India’ high-end computing servers. During the past six months, the shares have experienced a remarkable winning streak, surging from ₹749 apiece to the current trading price of ₹1852, reflecting a substantial gain of 147%. Also Read: BHEL share price up fourfold
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