Multibagger Stock RO Jewels Hit 5% Upper Circuit As Q4 Net Profit Zooms 2,414% YoY

RO Jewels is a micro cap company that deals in the consumer discretionary sector. The stock opened today at Rs 4.84 apiece and witness a strong volume of 1,83,937 shares. Later on during the morning deals at (9.20 A.M) the stock hit a upper circuit of Rs 4.87 up by 5% from the previous close of Rs 4.64. This heavy buying demand triggered after the company reported impressive Q4 and FY23 results.
During Q4 FY2023 the company reported net income of Rs 491.25 Cr up by 1,345.50% YoY from Rs 33.98 Cr in Q4FY22. During the the quarter ended March 2023 the company reported a net profit of Rs 1.9107 Cr up by 2,414.08% YoY from Rs 0.07 Cr in the March 2022 quarter. RO Jewels said its EPS reached Rs 1.91 in Q4FY23 up by 600% YoY from Rs 0.27 in Q4FY22.

The company has posted a total income of Rs.507.06 crores during the financial year ended March 31, 2023 as compared to Rs.49.79 crores in the financial year ended March 31, 2022, representing a gain of 918.33% YoY. During the Year Ended FY2023, its net profit stood at Rs 2.00 Cr up by 1,047.80% from Rs 0.17 Cr in Year Ended FY2023. During 12MFY23 the EPS of RO Jewels reached Rs 1.99 up by 1,070.59% from Rs 0.17 in 12MFY22.

RO Jewels touched a 52-week-high of Rs 13.37 on (20/01/2023) and a 52-week-low of Rs 2.15 on (10/08/2022), indicating that at the current market price of Rs 4.87 the stock is trading 63.57% below the 1 year high and 126.51% above the 1 year low.
During Q4FY23, the company recorded promoters shareholding of 25.28%, FIIs stake of 1.50% and public stake of 73.23%. Vikasa India Eif I Fund - Incube Global Opportunities the is the foreign institutional investor (FII) who bought a fresh stake of 1.50% or acquired fully paid up equity shares of 755,000 in RO Jewels during the March 2023 quarter.