This smallcap steel structure manufacturer has given 488.72% returns in two years
The company is a provider of customised steel fabrication and infrastructure solutions in India for Telecommunication Towers.
Despite the global economy reeling under the heat of the Covid-19 pandemic, the Indian stock market managed to give a stellar return to its investors in 2022. A good number of shares including smallcap stocks delivered multibagger returns to its shareholders. Salasar Techno Engineering Ltd, a Steel structure manufacturer & EPC infrastructure, is one of them. The company has given investors fantastic profits over the last 2 years. Salasar Techno Engineering Ltd’s share price ended at Rs 38.38 on March 27, 2021, and traded at Rs 225.65 on March 23, this year, a gain of 488.72%.
In Q3FY22, revenue decreased by 0.43% YoY to Rs 173.61 crore from Rs 174.36 crore in Q3FY21. On a sequential basis, the top-line was down by 13.28%. PBIDT (Ex OI) was reported at Rs 16.63 crore, down by 7.1% as compared to the year-ago period and the corresponding margin was reported at 9.58%, contracting by 68 basis points YoY. PAT was reported at Rs 6.96 crore, down by 40.36% from Rs 11.67 crore in the same quarter for the previous fiscal year. The PAT margin stood at 4.01% in Q3FY22 contracting from 6.69% in Q3FY21. Despite the weak result company has given more than 400% returns to the investors in last 2 years.
At 10:23 am on Wednesday, the stock of Salasar Techno Engineering was seen trading at Rs 225.65, down by 0.09% or Rs 0.2 per share. The 52-week high of the scrip is recorded at Rs 370.75 and the 52-week low at Rs 170.1 on the BSE.
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