penny stock: Shares broke their five-day losing streak GG Engineering 20% were closed at the upper circuit limit at Rs 1.90 in morning trade today, October 24, following the company’s positive financial results for the September quarter.
For Q2 FY25, GG Engineering reports net profit 11 crore, a significant improvement compared to the net profit of Rs. There was a net loss of Rs 1 crore more in the same period last year 2 crore in the last June quarter. This net profit is more than the combined net profit 7 crore for FY24.
Revenue from operations increased 106 crore in Q2FY25, showing 45.2% improvement year-on-year Rs 73 crore and above in Q2 FY24 Rs 70 crore in the first quarter of the current financial year. EBITDA reached 13 crores, compared to just It was Rs 1 crore in the same period last year.
The company supplies spare parts for industrial engines, marine engines and diesel generator sets for various applications in both local and international markets. global diesel generator market It was valued at $20.8 billion in 2019 and is projected to reach $37.1 billion by 2027, showing a CAGR of 9.8% from 2020 to 2027 as per recent estimates.
Technological advancements in diesel generators along with increasing energy demand from various end-use industries are expected to create attractive growth opportunities for key players, enabling them to strengthen their market position in the coming years.
Stock increased 150% from April 2023
Company shares have declined since April 2023 is in recovery modegrowing from To the current level of Rs 0.76 per share 1.90, resulting in a remarkable profit of 150%. Notably, the stock surged 84% in November 2023 alone.
Despite this improvement, the stock is still trading about 80% below its all-time high 9.33 per share, which was reached in July 2021.
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