1,000% return in 8 months! These 3 small cap stocks surprised D-Street

Amid heightened volatility in the domestic equity markets and rising geopolitical tensions since September 2024, multibagger stories have been rare. But not absent. In the broader markets, at least three small-cap stocks managed to rally more than 1,000% in just eight months.

With a sharp rally of 2,388%, RRP Semiconductor emerged as the top gainer on the BSE. Its shares surged to Rs 1,258.60 on May 27, 2025, from Rs 50.58 on September 27, 2024. Interestingly, the company had rebranded itself from GD Trading and Agencies to RRP Semiconductor in June 2024. For the nine months ended December 2024, the company reported a profit of Rs 10.05 crore, compared to a loss of Rs 0.10 crore in the same period a year ago.

In its annual report for FY24, RRP Semiconductor stated that it diversified its business activities, which were previously untapped by the company. “The company ventured into the new business of electronics devices and semiconductors. The company has changed its name from “G D Trading and Agencies Limited” to “RRP Semiconductor Limited” to properly reflect the object of the company post the financial year,” it said.

Kothari Industrial Corporation (KICL) is next on the list. The company offers a wide range of industrial products, including fertilisers, drones, footwear and health products. Shares of the diversified company also gained 1,384% to Rs 402.15 on May 27, 2025, from Rs 27.09 on September 27, 2024.

In its annual report FY24, the company said it continues to explore the possibilities of expansion and will make the necessary investments when attractive opportunities arise.

Meanwhile, the benchmark equity index BSE Sensex declined 4.6% during the same period. On the other hand, the BSE Midcap and BSE Smallcap indices retreated 9% each.

A couple of factors such as robust outflows by foreign institutional investors, tepid earning seasons, and tensions between India and Pakistan kept the market volatile in the past 8 months.

With a market capitalisation of Rs 6,490 crore, Elitecon International also gained 1,191% in the past eight months. The scrip climbed to Rs 386.70 on May 27, 2025, from Rs 29.96 on September 27, 2024. The company manufactures and trades tobacco-based products for both domestic and international markets. For the financial year ended March 2025, Elitecon International reported consolidated gross sales of Rs 297.51 crore, up 423% YoY. Net profit jumped 574% YoY to Rs 32.21 crore.

(Disclaimer: The stocks mentioned in this article are for informational purposes only. Please consult a qualified financial advisor before making any investment decisions.)