Do not share, this is the ‘paras stone’, whoever gets it, his life is fixed.

New Delhi. Steel company Jai Balaji Industries had a debt of Rs 3,407.9 crore in FY 2021. This debt has now reduced to Rs 566.50 in the third quarter of the current financial year i.e. December quarter. Not only this, the company’s profit also increased by 740% on a quarterly basis. Jai Balaji Industries stock has rallied due to the company’s consistently good quarterly results and debt reduction. The company’s shares have risen 2600 percent in the last ten months alone. Thus, this multi-bagger share has made investors rich in less than a year.

Also today, shares of Jai Balaji Industries closed at Rs 1086.55 on BSE with a gain of 2.89 per cent (Jai Balaji share price). On March 28, 2023, the share price of Jai Balaji Industries was Rs.42. In the following 10 months, it increased by 2600% and reached Rs 1134 on 30 January 2024. This is a one-year high. It is currently down more than 4 percent from that high. However, it is currently 2481% above the one-year low.

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A 40 percent increase in the year 2024
In the last five trading sessions alone, shares of Jai Balaji Industries have gained nearly 15 percent. The stock has gained nearly 40% so far in the year 2024. This multi-bagger share has increased by 7716% in the last five years. However, what is worth noting here is that there is additional monitoring of the exchange on the volatility of this stock. It is in the fourth phase of the exchange’s long-term ASM (Additional Monitoring Initiative).

The company turned from loss to profit.
From fiscal year 2012 to fiscal year 2021, Jai Balaji Company has been continuously making losses. It turned profitable in FY2022. In April-December 2023, it posted a net profit of Rs 606.59 crore, up 755 percent on a year-on-year basis. At the same time, in the December 2023 quarter, the company’s profit rose 740 percent to Rs 234.60 crore. In FY2023, the company earned a net profit of Rs 57.8 crore.

Debt is continuously decreasing.
As per December quarter data, the company’s net debt stands at Rs 566.50 crore. At the end of March 2023, the figure was Rs 871.2 crore. The company had a debt of Rs 3,149.60 crore in FY 2022 and Rs 3,407.9 crore in FY 2021. Jai Balaji Industries aims to maintain a net debt to EBITDA ratio of around 0.6 in FY2024.

(Disclaimer: The information given here is based on share performance. As investing in stock market is subject to market risk, please consult a certified investment advisor before investing. News 18 Hindi becomes responsible for any damages you incur.)

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