MIC Electronics stock: There are many companies listed in the market whose stocks have given multibagger returns to investors. One such stock is MIC Electronics. This penny stock till a few years ago has now become a multibagger. In the last five years, the share price of MIC Electronics has seen a rise of 2757%. In August 2019, this stock has increased from ₹ 2.8 to ₹ 80 now.
MIC Electronics stock has given strong returns even in the short term. This penny stock has gained over 166 per cent in the last one year. At the same time, year-to-date in 2024, this stock has gained nearly 137 per cent. Despite suffering losses in 4 out of 9 months this year, the trend of this stock remains positive.
52 week high
This multibagger stock hit a 52-week high of ₹ 100.2 in July 2024. It is currently trading at ₹ 80. It is trading at a 20 percent discount from its high. However, it has seen a rally of 248 percent from its 52-week low of ₹ 23. Let us tell you that the stock touched this level in September 2023.
quarterly results of the company
MIC Electronics’ net profit grew nearly 59 per cent year-on-year (YoY) to ₹1.97 crore in the quarter ended June 2024 from ₹1.24 crore in the year-ago period. The company also reported revenue of ₹10.73 crore during the quarter, up 53 per cent from ₹7.02 crore in the same period last year.
What do experts say
ICICI Direct highlights the company’s past financial performance, highlighting several key strengths. Its annual EPS growth has been strong, indicating profitability over time. The company has shown growth in its quarterly net profit with profit margins increasing year-on-year.
Promoters pledging shares: However, the brokerage said that promoters have increased the number of shares pledged quarter-on-quarter. Additionally, promoter holding declined by more than 2 percentage points on a quarter-on-quarter basis.
