160% return in six months, small-cap stock under ₹100 near 52-week high

Stock market today: Sigachi Industries shares are one of the small-cap stocks of the Indian stock market that are priced below ₹100. the stock has been in a bull trend for the last six months but it seems that the scrip still possesses some upside potential. 

Sigachi Industries share price today opened upside and went on to touch an intraday high of ₹83 on NSE, which is just ₹2.95 away from its 52-week high of ₹85.95 per share that it climbed on 20th January 2024.

Also Read: Multibagger SME stock turns ₹1 lakh an allottee into ₹4.41 lakh in 5 years

Sigachi Industries share price history

In the last one month, Sigachi Industries share price has surged to the tune of 60 per cent. In the last six months, this multibagger stock has surged from ₹31.40 to ₹83 apiece level, registering around a 160 per cent rally in this time.

Also Read: ONGC share price rises more than 7%. Should you Buy, Sell or Hold the stock?

Sigachi Industreis Q3 results 2024

"In Q3, FY24, our operating income showed a substantial year-on-year increase of 61% reaching INR 111 crores. EBITDA witnessed a 61.4% year-on-year growth totaling INR 22.6 crores with a margin of 20.3%," Sigachi Industries said while sharing its earnings call transcript with BSE and NSE adding, "Net profit saw a 65.3% year-on-year rise amounting to INR 16 crores and a PAT margin of 14.6%. Coming to 9M FY24, operating revenue for the period increased by 28.4% year-on-year reaching INR 295 crores. EBITDA showed a 29.7% year-on-year growth totaling INR 60.3 crores with a margin of 20.45%."

Siggachi Industries Q3 results 2024 were announced on 20th January 2024 but its earnings call transcript was declared on 27th January 2024. In this earnings call transcript, the company management has claimed to have experienced strong growth with a top-line CAGR of 25% over the last five years.

Also Read: Sensex, Nifty surge over 1%: 4 key factors driving the rally

"As part of our strategic plan to scale up operations, we are currently in the process of expanding our MCC capacity by more than 50%, increasing from approximately 14,000 metric tons per annum to more than 21,000 metric tons per annum. This expansion is expected to be effective from February 2024. In the last quarter, we also acquired an 80% stake in Trimax BioSciences, a leading API manufacturing company based out of Raichur. This, in addition to our existing operations and capabilities, gives us the complete ecosystem of the pharma industry. Additionally, we have initiated the establishment of our new CCS manufacturing facility at Dahej SEZ, a significant step in strengthening our manufacturing infrastructure and augmentation of our production capacities," company management said.

"On the operational front, in the nine months FY24, our overall revenue experienced robust year-on-year growth of 27.5%, expanding from INR 235 crores to INR 299 crores. Sale of the products increased by 27% in the nine months FY24 to INR 269 crores versus INR 212 crores last fiscal," Sigachi Industries management added.

The company management further claimed that its strategic focus on high-margin yielding product mix and efficient manufacturing processes coupled with effective inventory management, gives them a competitive edge and is instrumental in sustaining our leadership position in the country.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.