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Rs 1.5 to Rs 180: This penny stock turned into a multibagger in one year

Rs 1.5 to Rs 180: This penny stock turned into a multibagger in one year

An amount of Rs 1 lakh invested in the micro cap share a year ago would have turned into Rs 1.17 crore today.

Flomic Global Logistics share has gained 9,275 per cent since the beginning of this year. The stock was stuck in the upper circuit of 5% through the session today. Flomic Global Logistics share has gained 9,275 per cent since the beginning of this year. The stock was stuck in the upper circuit of 5% through the session today.

Stock of Flomic Global Logistics has rallied nearly 11,664% in the last one year. The stock, which closed at Rs 1.53 on December 8, 2020 rose to a high of Rs 180 on the BSE today. An amount of Rs 1 lakh invested in the shares of Flomic Global Logistics  a year ago would have turned into Rs 1.17 crore today.

In comparison, Sensex has risen 28.6 per cent during the period.

The microcap stock hit an intra day high of Rs 180, touching upper circuit of 5% on BSE today. It closed 5% higher today against the previous close of Rs 171.45. The stock has gained 15.72% in the last three days.

The stock was stuck in the upper circuit throughout the session today.

Flomic Global Logistics share stands higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages. Total 3,623 shares of the firm changed hands amounting to a turnover of Rs 6.52 lakh on BSE.

Market cap of the firm rose to Rs 129.60 crore on BSE.

The share has gained 9,275 per cent since the beginning of this year.

The stock hit a 52-week high of Rs 216 on October 28, 2021 and a 52-week low of Rs 1.53 on December 8, 2020. The share has fallen 16.66% from its 52-week high in nearly 40 days, a key factor 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.

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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 stellar 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 against Rs 0.85 crore in the corresponding quarter of previous fiscal.

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

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Operating profit rose 45% to Rs 4.99 crore for the quarter ended September against Rs 1.55 crore in the corresponding quarter of the previous fiscal.

However, earnings per share (EPS)  fell to Rs 0.39 in Q2 against Rs  0.47  for the quarter ended September 2020.

On a quarter-on-quarter basis, the firm reported a 11.39% fall in net profit to Rs 0.70 crore from Rs 0.79 crore in the June 2021 quarter.

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Sales climbed 44.65% to Rs 80.44 crore in Q2 compared with Rs 55.61 crore sales for the quarter ended June this year.

On an annual basis, net profit rose 5,040% to Rs 2.47 crore for the fiscal ended March 2021 against Rs 0.05 crore loss for fiscal ended 2020. Sales rose to Rs 165.02 crore in the last fiscal against Rs 114 crore for the fiscal ended March 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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