The total income increased by 472 per cent to Rs 467.59 crore and net profit increased by 449 per cent to Rs 53.94 crore in Q4FY24 compared to Q3FY24, according to quarterly results.
New Delhi: The total income of the Hazoor Multi Projects Ltd increased by 68 per cent to Rs 138.04 crore and net profit increased by 1.6 per cent to Rs 10.45 crore in Q4FY24 compared to Q3FY24. In its annual results, the company reported a total income of Rs 494.60 crore in FY24 compared to Rs 776.19 crore in FY23 while the net profit increased by 20.5 per cent to Rs 54.90 crore in FY24 compared to a net profit of Rs 45.58 crore in FY23.
To recall, in March 2024, FIIs made its fresh entry and bought 16,61,782 shares or 10.92 per cent. The shares of the company have a PE of 11.5x whereas the sectoral PE is 19x with an ROE of 86 per cent & an ROCE of 84 per cent.
The stock gave multibagger returns of 175 per cent in just 1 year; 5,450 per cent in 3 years and a whopping 30,000 per cent in 10 years. Investors should keep an eye on this micro-cap stock.
Founded in 1992, the Hazoor Multi Projects Ltd has transitioned from residential construction to focus on infrastructure development. The company primarily act as a subcontractor on national highway projects for government agencies like the Maharashtra State Road Development Corporation and the National Highways Authority of India. Additionally, Hazoor Multi Projects has ventured into the EPC (Engineering, Procurement, and Construction) contracting business.
Hazoor Multi Projects Ltd: Here are some of the key details
- The total income increased by 472 per cent to Rs 467.59 crore and net profit increased by 449 per cent to Rs 53.94 crore in Q4FY24 compared to Q3FY24, according to quarterly results.
- In its annual results, the company reported a total income of Rs 549.31 crore and a net profit of Rs 63.77 crore in FY24.
- Hazoor Multi Projects Limited acquired 46.75 per cent of Karmvir Intelligent Infra Private Limited.
- Karmvir has had a negative net income in the past three years and no revenue for the latest financial year.
- The deal is not considered a related party transaction and does not require any governmental or regulatory approvals.
- Hazoor Multi Projects aims to leverage this acquisition to potentially expand into real estate development projects.
- Shares of Hazoor Multi Projects Ltd hit a 5 per cent upper circuit to Rs 383.85 per share from its previous closing of Rs 365.60.
- The shares of the company saw a spurt in volume by more than 1.50 times on BSE. The stock has a 52-week high of Rs 454 and its 52-week low is Rs 110.
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