Multibagger NSE SME stock Lagnam Spintex reaches lifetime high post Q4 results 2024; Share jumps 225% in 1 year

"Lagnam Spintex stock skyrockets after impressive Q4 results, recording over 225% rise in share price in one year."

Lagnam Spintex Ltd has emerged as a multibagger stock in the Indian stock market, showcasing a remarkable uptrend from its low point of ₹107 per share on 13th March 2024. This small-cap gem continues to show potential for further growth, with its share price opening on a positive note and reaching an intraday high of ₹163.25 per share during morning trading sessions. Notably, this surge led to a new lifetime high for the stock, indicating strong momentum.

The recent announcement of Q4 results for FY24 on 29th April 2024 has been a major catalyst for the rise in Lagnam Spintex shares. The company reported a significant 66 per cent year-on-year increase in revenue, accompanied by a remarkable 165 per cent year-on-year surge in EBITDA. In Q4FY24, Lagnam Spintex recorded a total revenue of ₹149.82 crore, a substantial jump from ₹90.41 crore in Q4FY23. The company's EBITDA stood at ₹20.03 crore, marking a substantial increase from ₹7.47 crore in the previous year. Additionally, the company's PAT saw a staggering 380 percent year-on-year growth, reaching ₹7.30 crore compared to ₹1.52 crore in Q4FY23.

Over the past month, Lagnam Spintex's share price has witnessed a notable increase from around ₹126.50 to ₹163.25 per share, reflecting a 30 per cent rise within this period. In a year-to-date analysis, the stock has surged from ₹86.45 to ₹163.25 per share, demonstrating an impressive 90 per cent increase. Looking back over the last six months, the share price has soared from ₹68.75 to ₹163.25 per share, marking a remarkable 135 per cent rise. Moreover, in a one-year timeframe, the stock has seen substantial growth from 49.60 to ₹163.25 per share, indicating a substantial 225 per cent increase.

Lagnam Spintex's journey in the stock market began with its IPO at a fixed price of ₹41 per share in September 2018. The stock was listed on the NSE SME Emerge platform on 18th September 2018, opening at the same price. However, the stock has witnessed significant appreciation over the years, reaching ₹163.25 per share in just over five years since its listing. This translates to a remarkable 300 per cent increase from its issue price of ₹41 per share.

It is important to note that the views and recommendations mentioned in this article are based on individual analysts or broking companies, and not endorsed by Mint. Investors are advised to seek advice from certified experts before making any investment decisions.

Exciting news alert! Livemint has been recognized as the fastest growing news website globally. Click here to explore more about this achievement and unlock a plethora of benefits, from insightful newsletters to real-time stock tracking and personalized newsfeed. Take advantage of these resources with just a click!

Share With Others