Dhatre Udyog Shows Impressive Growth, Achieves All-Time High, Surges 180% in YTD

Dhatre Udyog’s stock has reached an all-time high, experiencing a significant uptrend since the beginning of 2023. In Year-to-Date (YTD) time, the metal stock has soared from approximately ₹83.50 to ₹234.95 per share on the BSE, marking an impressive 180% increase during this period. Notably, Dhatre Udyog is among the notable multibagger stocks that the Indian stock market has delivered in 2023, and recent market movements suggest that there may be more potential for growth.

The momentum for Dhatre Udyog shares has been consistently upward, with the stock hitting the upper circuit for the past two trading sessions. Remarkably, the stock has achieved an all-time high for the same duration. After reaching the upper circuit on Monday, the stock continued its positive trajectory, opening higher and reaching an intraday high of ₹234.95 per share on the BSE during the early morning session on Tuesday, locking in a 5% upper circuit.


Dhatre Udyog’s Q2 2023 Results:

The board of directors of Dhatre Udyog Ltd discussed and approved its results for July to September 2023 in a meeting held on Monday. In Q2 2023, the company reported a substantial 165% year-on-year increase in revenue from operations, reaching ₹38.92 crore compared to ₹14.66 crore in the same quarter of the previous fiscal year. The company, a TMT bars and secondary steel manufacturer, also registered a 53.68% YoY rise in EBITDA during the July to September 2023 quarter.

Dhatre Udyog’s EBITDA for Q2FY24 stood at ₹2.94 crore, a significant increase from ₹1.91 crore in the second quarter of the previous fiscal year. The company’s Profit After Tax (PAT) reached ₹1.92 crore, representing a nearly 60% increase from its Q2FY23 PAT of ₹1.20 crore.

Dhatre Udyog’s H1FY24 Performance:

The company also disclosed its H1FY24 numbers while announcing its Q2FY24 results on Monday. During April to September 2023, the company’s revenue from operations grew over 300%, amounting to ₹79.27 crore compared to ₹19.75 crore in H1FY23. Additionally, Dhatre Udyog reported a nearly 50% rise in its EBITDA during the first half of the current fiscal year.

The company’s EBITDA for H1FY24 reached ₹5.85 crore, up from ₹3.91 crore in H1FY23. In the April to June 2023 period, the metal company experienced a 56% YoY rise in its PAT, according to Dhatre Udyog’s filing with the exchange.

Stock Performance and History:

Over the last month, the stock has surged from around ₹165 to ₹234.95 per share, indicating a 40% rise during this period. In the past six months, Dhatre Udyog’s stock has climbed from approximately ₹85 to ₹234.95 per share, marking a remarkable 165% increase. In YTD time, the multibagger stock has delivered close to a 180% return to its investors. Similarly, over the last year, the stock has provided a 200% return to its long-term investors.

It’s important to note that Dhatre Udyog is available for trade on BSE only, with a market cap of ₹256 crore. However, its current trade volume on BSE is relatively low at 2,944. Given its status as a low float stock, it has the potential to move significantly based on a single trigger. The stock’s 52-week high, also its all-time high, is ₹234.95 per share, while its 52-week low is ₹73.90 per share.

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