Rs 16 to Rs 160: This microcap IT company has turned Rs 1 lakh to Rs 10 lakh in a year

Variman Global has surged from Rs 39 to Rs 160 in two months and Rs 16 to Rs 160 in a year registered 900% growth in 12 months.

In the stock market rebound post-Covid-19 pandemic, a number of stocks have entered the list of multibagger in 2021. Variman Global shares are one of such multibagger in the Indian stock market.

In two months, Variman Global shares have surged from around Rs 39 to Rs 160 levels, registering a nearly 300% rise in this period.

This multibagger microcap stock had closed on 2 March 2021, at Rs 16 on NSE whereas its close price on 1 March 2022, was Rs 160 on NSE. So, in 12 months, the multibagger microcap stock has risen around 900%.

Impact on investment

Taking signal from the share price history of this multibagger, if you had invested Rs 1 lakh two months ago, it would have turned to Rs 4 lakh today. If you had invested Rs 1 lakh in this stock one year ago, it would have turned to Rs 10 lakh today, provided you remained invested in the stock to date

Reason for being a multibagger

In the last month, company has received orders worth Rs 18.12 crore. As per the regulatory filing, the company has received purchase orders of Rs 5.51 crore from Techwave Consulting and Rs 12.61 crore from Andhra Pradesh Medical Services and Infrastructure Development Corporation. The company has reported a strong set of Q3 numbers on February 10, 2022. It reported 469 per cent QoQ and 118.3% YoY growth in revenue from operations. The net profit of the Q3FY22 stands at 69.97 lakh with 50% growth as compared to the corresponding period of the last year. Net margins of the company are stable in Q3FY22 as compared to Q3FY21.

Variman Global Enterprises Ltd is an IT solutions company providing solutions through software development, IT Infrastructure solutions and distributing IT Hardware to clients.