Multibagger Stock: This stock made a fortune in one year, those who invested ₹ 1 lakh got ₹ 2.6 lakh – shares of elecon engineering company limited gave bumper returns to investors
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Mumbai: The stock market sometimes goes up and sometimes goes down. In the past months, there was a lot of decline in the market. Even after the fall in the market, many stocks have given good returns to the investors. One such stock is that of small-cap engineering company Elecon Engineering Company Limited. Shares of this small-cap engineering company have made investors rich. Shares of Elecon Engineering Company Limited have increased from Rs.144 as on March 29, 2022 to Rs.379.10 as on March 24, 2023. The stock has gained over 160% in the one year holding period. The company is a part of the S&P BSE SmallCap Index. This stock has given multibagger returns in the last one year. A year ago, if someone had invested Rs 1 lakh in the shares of this company, today his investment would have increased to Rs 2.6 lakh. On a consolidated basis in Q3FY23, the net revenue of the company also increased. It has grown by 42.8% YoY to Rs 388.8 crore.
The company is currently trading at a TTM PE of 19.7x as against industry PE of 29x. The company has achieved ROCE and ROE of 17.5% and 14% in FY22. Today the company’s shares have also touched an all time high of Rs.349.90. The stock’s 52-week high and low levels are Rs 475.75 and Rs 138.00 respectively on BSE. Explain that Elecon Engineering Company Limited is in the business of electricity. The company has emerged as the largest gear manufacturing company in Asia.
The company is currently trading at a TTM PE of 19.7x as against industry PE of 29x. The company has achieved ROCE and ROE of 17.5% and 14% in FY22. Today the company’s shares have also touched an all time high of Rs.349.90. The stock’s 52-week high and low levels are Rs 475.75 and Rs 138.00 respectively on BSE. Explain that Elecon Engineering Company Limited is in the business of electricity. The company has emerged as the largest gear manufacturing company in Asia.
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