Multibagger Stock: Shriram Pistons & Rings gains 157% in a year, records over 500% growth in 2 years

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Also Read: NSE, BSE shut today on account of Lok Sabha Elections The recovery in the rural market led to an increase in two-wheeler sales and strong demand for bikes in the 200 cc segment, all contributing to robust demand for auto components. Additionally, growth in aftermarket sales and exports has further boosted the volume of auto parts. Amid this backdrop, stocks in this sector have seen substantial gains, with Shriram Pistons & Rings being one of them.

Over the last one year, the shares have appreciated from ₹802.95 apiece to the current level of ₹2067, resulting in a gain of 157%. Over the last two years, the shares have soared 512%, and in last four years, the shares have delivered an impressive return of 654%. Also Read: M&M in fast lane on higher capex, upcoming launches Last week, the company's shares spiked over 5% following the release of the company's Q4 and FY24 performance, which came in line with analyst estimates.

Revenue from operations in Q4 rose by 12.6% year-on-year (YoY) to reach ₹802 crore, while for the full fiscal year (FY24), revenues increased by 14.5% YoY to ₹3351 crore. Additionally, the profit after tax (PAT) grew by 30.2% YoY in Q4 FY24 to Rs.120 crore. For the entire fiscal year, the PAT stood at ₹446 crore, marking a significant improvement of 51.2% compared to the previous year's ₹295 crore.