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Rs 3 to Rs 148: This penny stock turned into a multibagger in one year

Rs 3 to Rs 148: This penny stock turned into a multibagger in one year

An amount of Rs 1 lakh invested in the stock a year ago would have turned into Rs 49.40 lakh today.

Flomic Global Logistics share has lost 26.76%  since the beginning of this year. Flomic Global Logistics share has lost 26.76% since the beginning of this year.

Shares of Flomic Global Logistics have rallied 4,947% in the last one year. The penny stock, which closed at Rs 2.93 on February 8, 2021 rose to a high of Rs 147.90 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 49.40 lakh today. In comparison, Sensex has risen 13.41 per cent during the period.

The microcap stock hit an intra day high of Rs 147.90, rising 2.18% on BSE today. The stock opened with a gain of 2.18% at Rs 144.75 on BSE.

The stock touched an intraday low of Rs 130.65, falling 9.74% on BSE.

The share trades higher than 200 day moving averages but lower than 5 day, 20 day, 50 day and 100 day moving averages.

Total 3,910 shares of the firm changed hands amounting to a turnover of Rs 5.35 lakh on BSE.

Market cap of the firm stood at Rs 99.18 crore on BSE.

However, the share has lost 26.76%  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 2.98 on February 15,2021.

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Two promoters held 27.49 per cent stake in the firm and public shareholders owned 72.51 per cent at the end of December quarter. 9,829 public shareholders owned 52.20 lakh shares of the firm.

Of these, 9,744 shareholders held 7.39% stake with capital up to Rs 2 lakh.

Only 34 shareholders with 43.04% stake held capital above Rs 2 lakh at the end of December quarter. Foreign portfolio investors (FPIs) did not hold any stake in Q3 of the current fiscal.

The stellar rise in the stock of Flomic Global Logistics does not fully reflect the financial performance of the firm.

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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.

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.

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.

The firm is yet to announce its earnings for the quarter ended December 2021.

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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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