Metal Company Rathi Steel Announces Q3 Results; Scrip Up 1,498.18% In 1 Year

Delhi-based Rathi Steel announces its Q3FY24 results. The company reported net sales at Rs 101.22 crore in Q3FY24 from Rs. 172.82 crore in Q3FY23. Their quarterly net profit at Rs. 0.79 crore in Q3F24 from Rs. 3.01 crore in Q3F23.

Rathi Steel's EBITDA stands at Rs. 6.16 crore in Q3F24 from Rs. 8.65 crore in Q3F23. Rathi Steel shares closed at 53.81 on February 15, 2024 (BSE) and has given 357.18% returns over the last 6 months

Recently, the board of the company approved the Issue and allotment of upto 3,55,70,522 (Three Crores Fifty Five Lacs Seventy Thousand Five Hundred and Twenty-Two Only) Equity Shares of face value of Rs. 10/- each to persons belonging to Non-Promoter Category, on preferential basis, at Rs32.25 for cash, subject to shareholders' approval
Rathi Steel And Power Ltd (erstwhile Rathi Udyog Ltd) is a part of the P.C.

Rathi Group of Delhi. The Group owes its presence in the steel industry to the farsightedness of the late Seth Gordhan Das Rathi. He set up a small re-rolling mill in Delhi in the early 40s. Since then the Group has grown continuously. Shri Gordhan Das Rathi's commitment to quality, integrity, honesty, and growth is being followed to date.

On Friday, the shares of Rathi Steel And Power were locked in a 2% lower circuit limit at Rs 52.74 apiece during the afternoon deals. Rathi Steel And Power is among the multibagger penny stocks of Dalal Street as the scrip has returned 1,498.18% to the shareholders in 1 year and 339.50% in 6 months. On a YTD basis, the stock has surged 69.09% so far in 2024.