It’s not just a saying; the Tata Group is truly trustworthy. One of the companies in this group has turned its investors into millionaires in a short span of time. The company has also released the figures for the June 2023 quarter, showing a profit of INR 850 crore. This company started its business in the stock market with shares priced at a mere INR 35, which has now increased by nearly 22,000 percent.
We are talking about Tata Elxsi, whose shares have now achieved multi-bagger status. This multi-bagger share has made its investors millionaires in just 20 years. Trading in the company’s shares began on September 17, 2003, at a price of INR 35. On Wednesday, July 19, its shares were priced at INR 7,564.50 on the BSE. This means it has gained more than 21,700 percent so far.
Turned one lakh into over two crores
This multi-bagger share has already achieved a growth of around 22 percent in 2023. In the last five years alone, it has provided nearly five times the return. If someone had invested one lakh rupees in this share during the initial trading at INR 35, the value of their shares would have reached INR 2.19 crore today. Thus, in just 20 years, the investors in this stock would have become owners of more than 2 crores, having invested only one lakh rupees.
The company has earned significant profits during the April-June quarter. Its revenue has increased by 17 percent from the same period last year, reaching INR 850 crore. When it comes to profit, the net profit has reached INR 189 crore, which is 2 percent more than last year. The company claims that its business has grown by around 40 percent, with new clients continuously joining.
Future prospects for the company
After releasing the quarterly results, the company has stated in its regulatory filing that its business model is robust. Its client base is also growing rapidly. The company’s design and digital model are well-received in the business world. The transporter segment of the company is also growing rapidly. Moreover, there is a big deal in the electric vehicle segment in the pipeline. This bright future will also benefit the investors.