Multibagger stock that has surged 1350% in one year hits upper circuit after Q1 results
Multibagger stock: Shares of Servotech Power Systems are one of the multibagger stocks that Indian stock market has delivered in 2023. This multibagger small-cap stock has delivered 430 per cent return in YTD whereas it has given to the tune of 1,350 per cent return to its positional investors in last one year. But, it seems that there is still much steam left in this multibagger small-cap stock.
The multibagger stock today opened upside and went on to hit intraday high of ₹171.65 apiece on NSE, hitting 5 per cent upper circuit within few minutes of stock market's opening bell today. This multibagger stock had hit upper circuit on Friday session as well. So, the small-cap stock has hit upper circuit for second straight session.
The multibagger stock has been in uptrend after announcement of Q1 results 2023, which was declared on Friday last week. In Q1FY24 results, Servotech Power Systems Ltd has reported total revenue at ₹68.4 crore that stood at ₹30.35 crore in Q1FY23. This means, the company has reported rise in total revenue to the tune of 93.50 per cent on YoY-basis.
Small-cap company's profit stood at ₹4.03 crore after the end of June 2023 quarter whereas its profit in the corresponding period in the previous financial year stood at ₹0.35 crore. This means, the small-cap company's profit has also risen to the tune of 1,050 per cent in YoY-terms. Company's revenue from operations during April to June 2023 quarter stood at ₹68.14 crore, which is near 125 per cent higher from its operational revenue of ₹30.32 crore during April to June 2022 quarter.
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