Ashish Kacholia Portfolio Stock Surges 9% After Q2 PAT Climbs 382%: Do You Own?

Small-cap capital goods company Balu Forge Industries began on the NSE today at Rs 267 and was trading with an 8.25% upside gap at Rs 244 in the morning sessions after the company reported a threefold rise in its Q2 net profit.

With an increase of 113.43% YoY, the firm recorded a total income of Rs. 143.28 crores for the quarter ended September 30, 2023, up from Rs. 67.13 crores for the period ended September 30, 2022. The company has posted a net profit of Rs 23.26 Cr in Q2FY24 up by 382.24% YoY from Rs 4.82 Cr in Q2FY23.

For the quarter that ended on September 30, 2023, the firm reported EPS of Rs. 2.47, up from Rs. 0.58 for the same quarter of FY23.

The firm recorded a QoQ rise of 27.37% in total income, with Rs. 143.28 crores for the period ended September 30, 2023, compared to Rs. 112.49 crores for the quarter ended June 30, 2023. Its net profit jumped by 39.59% QoQ from Rs 16.67 Cr in Q1FY24 to Rs 23.26 Cr in Q2FY24. As opposed to Rs. 2 for the quarter ended June 30, 2023, the company has declared EPS of Rs. 2.47 during the quarter under review, marking a QoQ growth of 23.50%.

One of Dalal Street's multibagger stocks is Balu Forge Industries, which has gained 157 in the previous six months and has produced a multibagger return of 263 so far in 2023 on a YTD basis. The stock has gone up by 253.71% over the past year and by 117% over the previous three years. The stock has produced a multibagger return of 264.18% during the past five years.

The stock reached a 52-week-high of Rs 267.00 on (01/11/2023) and a 52-week-low of Rs 53.90 on (28/11/2022). During Q2FY24, the company reported promoters' shareholding of 56.07%, FIIs stake of 8.76%, DIIs stake of 1.95% and public stake of 33.23%. As per the shareholding pattern of Balu Forge Industries for July to September 2023 quarter, ace investor Ashish Kacholia held 21,65,500 shares of the company in his portfolio or a 2.11% stake in the company.