Penny Stock Below Rs 5 Zooms 20% To Hit Upper Circuit Limit After Q4 Results; Do You Own?

Srestha Finvest Ltd.'s industry of operation includes trading and investing in stocks and shares. The stock began trading on Monday at Rs 1.45 per share and surged to a record high of Rs 1.70, which is also the upper circuit limit. The penny stock was trading 20% higher in the afternoon session compared to the previous close. 17,19,364 shares were exchanged in the last trading session. With a market value of Rs 98 Cr, the penny stock Srestha Finvest is the subject of attention following the release of its financial results for the quarter that ended on March 31, 2024.

On May 30, the firm said that its net sales for the March 2024 quarter were Rs. 5.64 crore, a 708.97% rise compared to Rs. 0.70 crore in the same quarter of 2023. Its net profit increased by 209.75% from Rs. 4.61 crore in Q4FY23 to Rs. 5.06 crore in Q4FY24. EBITDA jumped by 227.54% from Rs. 4.43 crore in March 2023 quarter to Rs. 5.65 crore in the March 2024 quarter. From Rs. 0.55 in Q4FY23 to Rs. 0.09 in the March 2024 quarter, Srestha Finvest's EPS has grown.

In the entire fiscal year that ended in March 2024, net profit was recorded at Rs 1.74 crore, compared to a net loss of Rs 4.97 crore in the year prior that ended in March 2023. Sales climbed from Rs 2.75 crore in FY23 to Rs 12.75 crore in FY24, a 363.64% growth.

With a low debt-to-equity ratio of 0.49 and a book value of 0.66 times its book value, Srestha Finvest is a 100% publicly held corporation. The stock has gone up 47.83% over the past year, and it has climbed 29.77% year to date (YTD) in 2024. It has grown by 51.79% over the past six months and by 44.07% over the past month. The stock was up 17.24% during the previous five trading sessions. The stock reached a fresh 52-week-high today at Rs 1.70 while it had recorded a 52-week-low of Rs 1.00 on (28/03/2024), implying that it is trading 70% higher from its 1-year low.

Working capital requirements, both short- and long-term, promoter funding, mezzanine financing, acquisition financing, project financing, bridge financing, and initial funding requirements for projects are just a few of the scenarios for which the wholesale lending business of the company offers credit solutions.