150% rally in YTD! Multibagger small-cap stock under ₹100 hits 5% upper circuit | Stock Market News

Multibagger small-cap stock under ₹100: A small-cap stock under ₹100 continued its rally, registering an impressive year-to-date (YTD) gain of 150 per cent. On December 24, the stock hit its 5 per cent upper circuit, driven by strong investor sentiment and favorable developments surrounding the company.

MIC Electronics share price was trading in the green, up 5 per cent at ₹86.76, on December 24, at 10:14 am, on BSE.

MIC Electronics Limited, on December 23, announced a key milestone in its operations. The Competent Authority approved the company’s Capacity cum Capability Assessment (CCA) for GPS Location-Based Public Address & Passenger Information System (PAPIS) and LED destination boards for AC and Non-AC ICF and LHB coaches. These approvals follow the stringent specifications outlined in RDSO/CG-18001 (Rev.2).

The final offer document estimated an expenditure of ₹2.50 crore for offer-related costs, but the actual expenses incurred amounted to ₹1.93 crore. This difference of ₹0.57 crore was utilized for working capital during the quarter ending September 30, 2024. Consequently, the net proceeds increased to ₹88.07 crore from the originally planned ₹87.5 crore.

For the September 2024 quarter, the company reported net sales of ₹11.20 crore, representing a significant 57.75 per cent increase from ₹7.10 crore in the September 2023 quarter. Despite the rise in sales, the company’s net profit for Q2 FY25 fell sharply to ₹2.11 crore, marking a 74.63 per cent decline from ₹8.30 crore in Q2 FY24. However, the EBITDA showed a positive trend, growing by 55.24 per cent to ₹3.85 crore in Q2 FY25 compared to ₹2.48 crore in Q2 FY24.

Additionally, on November 8, 2024, MIC Electronics established a wholly-owned subsidiary, MICK Digital India Limited (WOS), by subscribing to 50,000 equity shares at ₹10 each. The total investment of ₹5,00,000 was paid in cash, representing the full paid-up share capital of the subsidiary.