On Friday, the Sensex and Nifty continued their upward momentum for the fifth consecutive day, reaching new 52-week highs due to strong buying activity across multiple sectors and top-performing stocks.
Nevertheless, at the end of the trading day, both benchmark equity indices finished the session with losses. The NSE Nifty 50 ended the day’s trading down by 33.90 points or 0.14 percent, closing at 24,010.60. Similarly, the BSE Sensex dipped by 210.45 points or 0.27 percent, finishing at 79,032.73.
With a market capitalization of Rs. 493 crores, the shares of Meghna Infracon Infrastructure Ltd began Friday’s trading session on a positive note at Rs. 466, experiencing a 2 percent increase compared to its previous close of Rs. 447.90. The shares closed the day at approximately Rs. 450 each.
In June 2022, the stock price was trading at Rs. 9.60, showing a significant gain of around 4,557 percent compared to the current price. As an expert in financial analysis, consider this scenario: if an individual had invested Rs. 1 lakh into the company’s stock 2 years ago, it would have grown to approximately Rs. 47.29 lakhs at present.
Examining the company’s financial statements, there was a significant increase in revenue from Rs. 7.41 crores in the December quarter to Rs. 9.49 crores in the March quarter, representing a growth of 28 percent. Furthermore, there was a significant increase in net profits, rising by 38 percent from Rs. 40 lakhs to Rs. 55 lakhs.
On a year-over-year basis, the revenue experienced a significant surge of 268 percent, jumping from Rs. 2.58 crores in Q4FY23 to Rs. 9.49 crores in Q4FY24. However, the net profits demonstrated a shift from a net loss of Rs. 2.35 crores to a net profit of Rs. 55 lakhs.
Just recently, the company unveiled a brand new residential project called ‘RIVAAN’ in the bustling neighbourhood of Goregaon (West), Mumbai. With an impressive area of approximately 1 lakh square feet, this project marks a significant milestone for the company as it aims to establish itself as a leading developer of high-end real estate in Mumbai.
The project presents a groundbreaking community living concept, providing residents with 1 and 2 BHK apartments as well as commercial units on the first floor.
The company’s financial performance for the period spanning FY23-24 was impressive, with a Return on Equity (RoE) of 24.03 percent and a return on capital employed (RoCE) of 25.84 percent. In addition, the net profit margin was 6 percent during the same period.
Based on the most recent shareholding pattern, the Promoters possess 46.92 percent of the stake, while the Public holds 52.90 percent of the shares. The remaining 0.18 percent of the stakes are held by Foreign Institutional Investors (FIIs).
The company underwent a name change from Naysaa Securities Limited to Meghna Infracon Infrastructure Limited in May 2024. It offers investment advisory services, as well as a range of investment tools and services in India.
Disclaimer: This blog is solely for educational purposes. The securities/investments quoted here are not recommendatory