Rs 20 to Rs 224: This machinery stock turned into a multibagger in three years, hit 52-week high today

Shares of Lokesh Machines have rallied over 1000% in the last three years. The multibagger stock, which closed at Rs 20.2 on September 24, 2020 rose to a 52 week high of Rs 223.90 on the BSE in the current session. An amount of Rs 1 lakh invested in the shares of Lokesh Machines three years ago would have turned into Rs 11.08 lakh today. In comparison, Sensex has risen 77.07 per cent during the period. 

In the current session, the multibagger stock rose 15.17% to Rs 223.90 on BSE. Lokesh Machines stock opened higher at Rs 195.05 on Monday against the previous close of Rs 194.40 on BSE. The stock fell to a 52 week low of Rs 88.55 on December 26, 2022. Lokesh Machines shares have a beta of 0.8, indicating low volatility in a year. 

In terms of technicals, the relative strength index (RSI) of the Lokesh Machines stock stands at 58.1, signaling it's trading neither in the overbought nor in the oversold zone. Lokesh Machines shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day, 150 day, 200 day moving averages.      

The stock has risen 90% in one year and gained 93.64% since the beginning of this year. The share has climbed 88.38% in six months.  

Total 1.27 lakh shares of the firm changed hands amounting to a turnover of Rs 2.74 crore on BSE. Market cap of the firm rose to Rs 378.61 crore on BSE.       

22 promoters held 52.40 per cent stake in the firm and 19778 public shareholders owned 47.60 per cent for the quarter ended June 2023. Of these, 18,996 resident individuals held 57.35 lakh shares or 32.05% stake with capital up to Rs 2 lakh. Only 28 resident individuals with 8.52% stake held capital above Rs 2 lakh for the quarter ended June 2023. 

Financial Performance     

In the June 2023 quarter, the firm reported a revenue of Rs 50.7 crore against Rs 50.3 crore revenue in the corresponding quarter of previous fiscal.  

Profit rose to Rs 0.8 crore in the June 2023 quarter against a profit of Rs 0.7 crore in the June 2022 quarter. Operating profit fell marginally to Rs 5.7 crore for the quarter ended June 2023 against Rs 5.8 crore in the corresponding quarter of the previous fiscal.   

About the Company     

Lokesh Machines is engaged in the business of manufacturing of special purpose machines (SPM), general purpose machines/CNC lathes (GPM), connecting rods and machining of cylinder blocks and heads. The company operates through two segments: Machines Division and Component Division. It also exports its products to Japan, Germany, the Netherlands, Turkey, Italy, China, and the Middle East countries. 

 

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult a qualified financial advisor before making any investment decisions. 

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