This Multibagger BSE Scrip Surges 182% On A YTD Basis

The headline indices on a YTD basis are negative with Nifty down by 1.45% at 17101.95, while small cap index during the same period has cracked even higher, nevertheless some of the counters from the pack have gained huge momentum and similar is the case with the BSE-listed Apparels and accessories firm that in the past week has climbed by a good 32%. Comparing to the small cap index, the company in a matter of 20 sessions has moved higher in price by 182%, surging from a price of Rs. 15.14 as on December 31 to last trade at Rs. 42.65.

On January 28, 2022, the stock hit upper circuit limit.

Shareholding pattern:

As per the BSE exchange filing, the company informed of a bulk deal in which 490999 shares exchanged hands at a price of Rs. 42.65 per share. Furthermore the company in its latest filing has also informed of the shareholding pattern in the scrip as on December quarter.

The firm majorly has promoter holding of over 53%, rest is public shareholding that accounts for the remaining 46.96% share.

 

Q3Fy22 financials :

As per the company's unaudited standalone financial results, the company's revenue from operations for the period under review has been at Rs. 2773.65 lakhs.Profit for the period has been at Rs. 14.04 lakhs. This is a decline both on a YoY basis and a sequential basis.

Other financial metrics or points of interest for the scrip:

The company over the last 3 years has shown health growth in revenue of 20.46%.
Also it maintains a healthy liquidity position with current ratio of 2.96.
On the negative front, the company has a weak RoE which last in 2021 was at 1.74%

Cash flow from operations is in the negative zone.

Over the last 3 years, RoCE has been just over 2%.

Further the company's last 1-year return has been negative while it has shown momentum in the last 3 and 1 months time.

The company's book value is 15.02

 

About Bhakti Gems:

Based out of Gujarat, the company is engaged in the manufacture, wholesale and supply of gold jewellery. The company's products include handmade gold jewellery studded with precious and semi precious stones such as diamond, ruby, cubic zirconia (cz) etc.

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