Up 800% in 2 years: Shares of this company gain after Q2 earnings

Hardwyn India, a small-cap stock that has yielded multibagger returns to its investors, on Monday jumped 3 per cent after announcing earnings for the second quarter of the financial year 2023-24.

The stock traded near Rs 37.72 around 2 PM. The counter made an intraday high of Rs 38.29 and an intraday low of Rs 37.05. The stock had closed at Rs 37.05 during the previous session.

The architectural hardware manufacturer in a BSE filing said that its net sales stood at Rs 36.42 crore in the July to September quarter. The firm had clocked Rs 34.88 crore in net sales during the same quarter last financial year.

The total expenses of the company in the period were seen at Rs 34.52 crore, up from Rs 33.26 crore recorded in the year-ago quarter.

The company's standalone net profit in the quarter reached Rs 1.34 crore, showing an increase of 15.51 per cent when compared to the net profit of Rs 1.16 crore reported in the same quarter of the previous financial year.

Hardwyn India is a leading architectural hardware maker. Its shares have given a 55 per cent return in one year.

It has yielded a multibagger return to its investors in two years. The stock has climbed 811 per cent in 24 months.

Hardwyn India specialises in manufacturing architectural hardware and glass fittings for various sectors. Earlier this year, the company drafted a scheme of amalgamation with Fiba Hardwyn Locks. The firm is known for manufacturing stainless steel products for residential and commercial infrastructure projects.

Earlier in June, the company's shares turned ex-date for twin corporate actions of bonus and split. While the bonus was issued in the ratio of 1:3, the face value of equity shares was sub-divided in the ratio of 10:1.