Rs 77 to Rs 2,144: This micro-cap stock turned into a multibagger in three years

Shares of Shilchar Technologies Ltd have rallied 2,679% in the last three years. The microcap stock, which closed at Rs 77.15 on April 29, 2020 rose to a high of Rs 2144 on the BSE today. An amount of Rs 1 lakh invested in the shares of Shilchar Technologies three years ago would have turned into Rs 27.79 lakh today. In comparison, Sensex has risen 81.26 per cent during the period. The stock hit a record high of Rs 2250 on May 2, 2023.

In the current session, Shilchar Technologies stock rose 1.92% to Rs 1681 against the previous close of Rs 20103.50 on BSE. It hit a 52-week low of Rs 469.50 on June 20, 2022.

In terms of technicals, the relative strength index (RSI) of the stock stands at 76.4, signaling it's strongly overbought. Shilchar Technologies shares have a beta of 0.6, indicating low volatility in a year. Shilchar Technologies shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

In the noon session, Shilchar Technologies fell up to Rs 2050, down 2.54% on BSE.

The share has climbed 26.4% in a month and gained 273% in a year. Total 8339 shares of the firm changed hands amounting to a turnover of Rs 1.74 crore on BSE.

Market cap of the firm fell to Rs 787.47 crore on BSE.

Five promoters held 65.85 per cent stake in the firm and 3431 public shareholders owned 34.15 per cent for the quarter ended March 2023. Of these, 3345 resident individuals held 4.94 lakh shares or 12.96% stake with capital up to Rs 2 lakh. Only three resident individual shareholders with 2.51% stake held capital above Rs 2 lakh for the quarter ended March 2023.

The firm reported a 117.65 per cent rise in net profit at Rs 16.28 crore in Q4 against Rs 7.48 crore for the quarter ended March 2022. Revenue from operations rose 44.30% to Rs 94.99 crore in Q4 from Rs 65.83 crore in the year ago period. EBITDA zoomed 106% to Rs 21.18 crore in the March 2023 quarter compared with Rs 10.29 crore in the March 2022 quarter.

According to annual earnings for the fiscal ended March 2023, the firm reported a 207.12% rise in profit to Rs 43.12 crore against a profit of Rs 14.04 crore in the year ago period. Sales zoomed 55.53% to Rs 280.24 crore in the last fiscal against Rs 180.18 crore for the fiscal ended March 2022.

About the Company

Shilchar Technologies is a manufacturer of Electronics & Telecom and Power & Distribution transformers. Shilchar caters to a wide cross section of industrial segments from utility to renewable energy sector and to individual retail customers across the globe. Its headquarters are located in Vadodara, Gujarat.