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AL CIRCLE

Goyal Aluminiums Ltd’s Q1 FY24 results soar with positive stock price forecasts for the year

EDITED BY : 2MINS READ

Goyal Aluminiums Ltd, a metal trading services company, has recently reported its quarterly results for the period ending on June 30, 2023. The company has performed exceptionally well in Q1 FY24, with impressive growth in key financial indicators compared to the previous quarter.

Goyal Aluminiums Ltd’s Q1 FY24 results soar with positive stock price forecasts for the year

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The net sales for the quarter stood at INR 16.24 crore, exhibiting a growth of 71.65 per cent over Q4 FY23. The operating profit has increased by 111.63 per cent, reaching INR 0.91 crore. The profit before tax has also witnessed a notable increase of 88.40 per cent, standing at INR 7.71 crore. The company has reported a profit after tax of INR 6.51 crore, reflecting a growth of 117.32 per cent. The EPS for Q1FY24 is INR 0.05.

In the previous fiscal year, Goyal Aluminiums Ltd recorded net sales of INR 65.99 crore and an operating profit of INR 3.40 crore. The company's share capital was split, resulting in 10 shares with a face value of INR 1 each. The stock split came into effect on April 25, 2023.

Goyal Aluminiums Ltd specializes in offering a range of aluminium products, including sheets, coils, sections, and grills. The company operates under the name Advitiya Trade India Ltd and has a market capitalization of INR 118.47 crore.

On Monday, the company's stock (traded as Goyal Aluminiums Ltd) experienced a 5 per cent increase, reaching INR 8.31 per share. The stock has shown impressive returns over the years, with a multi-bagger return of 174 per cent in 2 years and over 800 per cent in 3 years. The stock's 52-week high and low are INR 47.55 and INR 7.19, respectively. The company's ROE is reported at 13.2 per cent and ROCE at 18.2 per cent.

Outlook 2023

Investors are recommended to keep heed of this micro-cap stock, as it shows strong growth potential. However, it is crucial to note that the information provided in this article is for informational purposes only and should not be considered investment advice.

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EDITED BY : 2MINS READ

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