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Rs 0.35 to Rs 150: This penny stock turned into a multibagger in 2.5 years

Rs 0.35 to Rs 150: This penny stock turned into a multibagger in 2.5 years

An amount of Rs 1 lakh invested in the penny stock on March 28 , 2019 would have turned into Rs 4.29 crore today.

Flomic Global Logistics share has gained 7,773 per cent since the beginning of this year and climbed 12,029 per cent in one year. Flomic Global Logistics share has gained 7,773 per cent since the beginning of this year and climbed 12,029 per cent in one year.

Stock of Flomic Global Logistics has zoomed nearly 43,000% in over 2.5 years. The stock, which closed at Rs 0.35 on March 28, 2019 rose to a high of Rs 150.40 today, surging 42,871% on the Bombay Stock Exchange (BSE). An amount of Rs 1 lakh invested in the shares of Flomic Global Logistics on March 28 , 2019 would have turned into Rs 4.29 crore today.

In comparison, Sensex has risen 57.71 per cent during the period.

The microcap stock hit an intra day high of Rs 150.40, reaching upper circuit of 5% on BSE today. It closed 5% higher today. The stock has gained 10.22% in the last 2 days.

Flomic Global Logistics stands higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages.

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Total 11,000 shares of the firm changed hands amounting to a turnover of Rs 16.24 crore on BSE.

Market cap of the firm rose to Rs 108.29 crore on BSE.

The share has gained 7,773 per cent since the beginning of this year and climbed 12,029 per cent in one year. However, the stock has lost 5.47% in a week.

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The stock hit 52-week high of Rs 216 on October 28, 2021 and 52-week low of Rs 1.22 on November 13, 2020. The share has fallen 30.47% from its 52-week high in nearly 15 days, a key factor which one should consider before making it a part of his portfolio based on past returns.

Two promoters held 27.49 per cent stake in the firm and public shareholders owned 72.51 per cent at the end of September quarter. 536 public shareholders owned 52.20 lakh shares of the firm.

Of these, 488 shareholders held 2.03% stake with capital up to Rs 2 lakh. Only 38 shareholders with 49.54% stake held capital above Rs 2 lakh at the end of September quarter. Foreign portfolio investors (FPIs) did not hold any stake in Q2 of the current fiscal.

The phenomenal rise in the stock of Flomic Global Logistics does not fully reflect the financial performance of the firm. In the September quarter, the firm reported a 17.65% fall in net profit.

Profit after tax (PAT) fell to Rs 0.70 crore in Q2 of this against Rs 0.85 crore in the corresponding quarter of previous fiscal.

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However, sales rose 100% to Rs 80.44 crore in the last quarter against Rs 40.08 crore in the September quarter of 2020.

On an annual basis, net profit rose to Rs 2.47 crore for the fiscal ended March 2021 against Rs 0.05 crore loss for fiscal ended 2020.

Flomic Global Logistics Limited operates as a logistic company. The Company provides warehousing, distribution, freight forwarding, custom broking, cargo, consolidation, multimodal transportation, and country trade services. Flomic Global Logistics serves customers worldwide.

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