Rs 0.40 to Rs 77: This penny stock turned into a multibagger in one year

Stock of Equippp Social Impact Technologies has delivered 19,275% returns to its shareholders in one year. The penny stock, which stood at Rs 0.40 on February 19, 2021, rose to a high of Rs 77 on BSE today. An amount of Rs 1 lakh invested in Equippp Social Impact Technologies stock a year ago would have turned into Rs 1.93 crore today.

In comparison, Sensex has risen 13.39% during the period. However, the share has fallen 27.18% since the beginning of this year. In a month, the stock is down 10.64%. The stock trades higher than 200 day moving averages but lower than 5 day, 20 day, 50 day and 100 day moving averages.

Total 5,700 shares of the firm changed hands amounting to a turnover of Rs 4.29 lakh on BSE. Market cap of the firm stands at Rs 793.83 crore. The stellar performance of the stock in one year is not in line with the firm's financials.

The company is a loss making one, a key factor one should consider before entering the counter.

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In the last 12 quarters, the firm has clocked zero sales. It last logged sales of Rs 0.54 crore for the quarter ended December 2018.

For the quarter ended December 2021, the company reported widening of loss to Rs 0.26 crore against a loss of Rs 0.09 crore in the corresponding quarter of previous fiscal. On a quarter on quarter basis, the firm's net loss narrowed by 43.48% from Rs 0.46 crore loss.

Three promoters held 97 per cent stake or 10 crore shares in the firm and 29,850 public shareholders owned 3 per cent stake at the end of quarter ended December 2021. Of these, 29,237 shareholders held 2.82% stake or 29.09 lakh shares with capital up to Rs 2 lakh.

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In the eight fiscals preceding the March 2021 fiscal, the company has logged losses.

For the fiscal ended March 2021, the firm logged a profit of Rs 12.67 crore.

The company has gone through the corporate insolvency process (CIRP) under the Insolvency and Bankruptcy Code after which the National Company NCLT approved its resolution plan on December 3, 2020.

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The agri-biotechnology company operates as a biotechnology company. The company specializes in bio-fertilizers, bio-pesticides, micronutrients, insecticides, and fungicides to increase yield potential of crops. Equippp Social Impact Technologies serves customers in India.

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