From Rs 0.83 to Rs 21: This penny stock turned into a multibagger in a year

An investment of Rs 1 lakh a year ago in this penny stock would have grown to Rs 25.7 lakh today, translating into a gain of 2,478% during the period.

MIC Electronics' stock has given investors fantastic profits over the last year. The MIC Electronics share price ended at Rs 0.83 on March 22, 2021, and traded at Rs 21.40 on March 22, this year, a gain of 2,478.31%. In comparison, Sensex gained 15% during the period.

In Q3FY22, revenue grew by 44850% YoY to Rs 26.97 crore from Rs 0.06 crore in Q3FY21. On a sequential basis, the top-line was up by 693.24%. PBIDT (Ex OI) was reported at Rs 7.76 crore, up by 1537.04% as compared to the year-ago period and the corresponding margin was reported at 28.77%, expanding by 92877 basis points YoY. PAT was reported at Rs 7.14 crore, up by 420.18% from Rs -2.23 crore in the same quarter for the previous fiscal year. The PAT margin stood at 26.47% in Q3FY22 expanding from -3716.67% in Q3FY21.

The company has outperformed its peers in the stock market. While shares of Siemens gained 27.46% in one year, Havells India managed to clock 8.93% returns for its shareholders. The stock of another peer ABB India rose 48% and CG Power climbed a huge 189% during the period.

MIC Electronics Limited (MIC) is an India-based company engaged in manufacturing light-emitting diode (LED) lighting solutions, development, production and sale of video and animation displays and text and graphic displays. It also offers a variety of indoor and outdoor video walls for rent or lease. MIC provides element management system (EMS) and network management System (NMS) solutions for the telecom, railway and network domains consisting of homogeneous or heterogeneous network elements (NEs). The company segments include media, and informatics and communications.

At 11:40 am on Tuesday, the stock of MIC Electronics Ltd. was seen trading at Rs 21, down by 0.71% or Rs 0.15 per share. The 52-week high of the scrip is recorded at Rs 39.75 and the 52-week low at Rs 0.63 on the BSE.