Amidst a volatile market, a hidden railway stock touched a new 52-week high on September 5. This stock has also skyrocketed by nearly 180% in merely 3 months. Who is it? This railway stock is neither IRFC nor RVNL which are the two giants of the sector in terms of market cap, but instead, a smallcap stock trading near Rs 2,000 per share levels.
Concord Control Systems Share Price:
After market hours, the stock ended at Rs 1,957,50 apiece, marginally down on BSE with its market cap at Rs 1,170.98 crore. During the trading hours of September 5, the stock touched a new 52-week high of Rs 2,062.05 apiece, while it has nearly quadrupled from its 52-week low of Rs 505 apiece.
Concord's weekly gain is about 12.50% as of now, while in a month, the stock zoomed by 60%. And in 3 months, the gain is a whopping 180% to date. Further, year-to-date, Concord shares have jumped by 124%, and in a year, the upside is massive by 276.08%. A year ago, on September 6, 2023, the stock was just at a little over Rs 510.
If an investor had bought Concord shares for Rs 10,000 then, their investment value will have a corpus of Rs 28,000 in 3 months at 180% gains.
Notably, Concord has made no bonus issues, stock splits or delivered any dividends up till now.
The company is an Indian Railway/Research, Designs, and Standards Organization (RDSO) approved source for manufacturing various electric and electronic ranges of products, and many more products are under development. Concord Control Systems Limited is a Lucknow-based leading manufacturer of Electrical and Electronics Products for Indian Railways.
In a board meeting scheduled on September 2, the company received approval for preferential issue of 3,18,472 Fully Paid-up Equity Shares of the face value of Rs.10/- each, on a preferential basis, at the issue price of Rs.1,570/ including a Security Premium of Rs. 1,560/- , which is a price higher than the minimum price determined in accordance with the provisions of Chapter V of SEBI (ICDR) Regulations, aggregating up to Rs. 50,00,01,040
Fundamentals Of Concord Control Systems:
As per Trendlyne data, the key fundamentals for Concord are broadly positive to neutral. These are:
- Annual Revenue rose 34.24%, in the last year to ₹66.61 Cr. Its sector's average revenue growth for the last fiscal year was -6.26%.
- Annual Net Profit rose 135.05% in the last year to ₹12.81 Cr. Its sector's average net profit growth for the previous fiscal year was -17.63%.
- Stock Price rose 279.88% and outperformed its sector by 197.84% in the past year.
- Debt to Equity Ratio of 0.06 is less than 1 and healthy. This implies that its assets are financed mainly through equity.
- Return on Equity(ROE) for the last financial year was 27.73%, more than 20% in the last financial year, indicating an efficient use of shareholder's capital to generate profit.
- Mutual Fund Holding remained the same in the last quarter at 0%.
- Promoter Share Holding stayed the same in the most recent quarter at 70.21%.
- Interest Coverage Ratio is 125.55, higher than 1.5. This means that it is able to meet its interest payments comfortably with its earnings (EBIT).
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