GulfHindi English Desk: Artson Engineering Limited experienced a sudden 20% increase in the price of its shares on the Bombay Stock Exchange (BSE) on Thursday. Compared to its previous closing price of ₹82.94, the share price reached ₹99.52. The company saw a significant increase of 6.86 times in the volume of its shares on the BSE.
The sudden increase in share price is attributed to the impressive financial results reported by the company for the first quarter of FY24. Here are the details:
👉Net sales increased by 12% from ₹36.89 crore in Q1FY23 to ₹41.89 crore in Q1FY24.
👉Operating profit increased by 336% from ₹0.89 crore in Q1FY23 to ₹3.91 crore in Q1FY24.
👉Net profit increased by 120% from ₹0.47 crore in Q1FY23 to ₹1.03 crore in Q1FY24.
👉The earnings per share (EPS) for Q1FY24 was ₹1.12.
Artson Engineering Limited is an EPC contracting company established in Hyderabad in 1978. It provides services in pressure vessel manufacturing, bulk liquid storage farms, industrial piping, and more.
Over the past 2 years, the share price has increased by 58.85%, and over 3 years, it has provided investors with a multi-bagger return of 268.59%. Investors should not overlook this micro-cap share.
In summary, Artson Engineering Limited experienced a significant boost in share price due to its impressive financial performance. Investors should consider this stock for potential growth.
en.gulfhindi.com News Summary
👉The share price of Artson Engineering (अर्टसन इंजीनियरिंग) on BSE saw a 20% increase on Thursday.
👉The price per share reached Rs. 99.52 compared to the previous closing price of Rs. 82.94.
👉The company’s shares witnessed a 6.86-fold increase on BSE.
👉The sudden increase in share price is attributed to the company’s impressive Q1FY24 results.
👉Net sales in Q1FY24 increased by 12% to Rs. 41.89 crore compared to Q1FY23.
👉Operating profit in Q1FY24 increased by 336% to Rs. 3.91 crore compared to Q1FY23.
👉Net profit in Q1FY24 increased by 120% to Rs. 1.03 crore compared to Q1FY23.
👉The EPS for Q1FY24 was Rs. 1.12.
👉Artson Engineering is an EPC contracting company established in Hyderabad in 1978.
👉The company provides services in pressure vessel fabrication, bulk liquid storage farms, industrial piping, etc.
👉In the previous quarter, the company received orders worth Rs. 14.49 crore for pressure vessels and installation and commissioning.
👉In January 2023, the company received orders worth Rs. 17.16 crore for engineering equipment installation and commissioning at GRSE.
👉The performance of the share has shown a 58.85% increase in the past 2 years and a 268.59% multi-bagger return in the past 3 years.
👉Investors should not overlook this micro-cap share.
👉Important financial details of the company’s Q1FY24 results are listed in the table.
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