Multibagger Stock: If you are looking for a good stock to invest in, then you can keep an eye on the shares of MIC Electronics. This stock has given strong returns to its investors in a short time. The company’s shares hit an upper circuit of 5 percent today on 11 September and the stock closed at Rs 85.95 on BSE. Actually, the company has received a new order from the Southern Railway Zone. After this news, heavy buying was seen in the company’s shares today. With today’s rise, the company’s market cap increased to Rs 2071 crore.
MIC Electronics gets new order
MIC Electronics has received a significant order worth Rs 1.33 crore from the Salem Division of Southern Railway Zone. This order is being seen as another major milestone in the company’s successful partnership with the Indian Railways. This contract comes after another major order from the Ratlam Division of Western Railway Zone of Indian Railways.
Earlier, the company was awarded a contract for supply, installation, testing and commissioning of telecom material as part of the construction of 12 meter wide foot overbridges at 14 stations of Western Railway zone under the Amrit Bharat Station Scheme (ABSS). The project is worth Rs 86.44 lakh and is expected to be completed within 10 months.
MIC Electronics has also secured an order from the Lucknow division of Northern Railway Zone ahead of the Maha Kumbh 2025 event. The project is worth Rs 2.54 crore and is to be completed within nine months.
MIC Electronics quarterly results
Talking about the quarterly results, the standalone net sales of MIC Electronics stood at Rs 10.71 crore in the quarter ended June 2024, up 52.63% from Rs 7.02 crore in the same quarter last year. The company’s net profit during the quarter increased to Rs 1.97 crore, up 58.48 per cent from Rs 1.24 crore in June 2023. Apart from this, its EBITDA grew by 32.55% to Rs 2.81 crore from Rs 2.12 crore a year ago.
Money increased 122 times in 5 years
In September 2019, the price of one share of the company was just Rs 0.70, which has increased to Rs 85.95 today. That is, in 5 years, this stock has given a bumper return of 12,178 percent. During this period, the money of investors has increased 122 times.
Business of MIC Electronics
MIC Electronics Limited, established in 1988, manufactures LED displays (indoor, outdoor, mobile), lighting solutions (indoor, outdoor, solar), telecom equipment and software. The company also manufactures medical equipment such as oxygen concentrators and batteries. MIC exports its products globally and has presence in the US, Australia, UK and other countries.
