By laksh5382 
Multibagger Penny Stock: Shares of Nandan DenimOne of India’s leading denim suppliers was locked in the upper circuit range of 5% The stock traded at Rs 5.06 each in afternoon deals on Monday, October 28, after the company reported good numbers for the September 2024 quarter (Q2FY25).
Standalone revenue from operations improved Rs 850.25 crore in Q2 FY25 It was Rs 414 crore in the same period last year. total income increased to Rs 521 crore 418 crore in Q2FY24.
There is a jump in single profit after tax (PAT) 8.7 crore in Q2 FY25, growth of 6% compared to 8.2 crore in Q2FY24. The company had registered a net profit in the last June quarter 7.50 crore, as per the company’s second quarter earnings report.
Nandan specializes in manufacturing a wide range of denim textiles, with its denim business being the core of its operations and generating the most revenue. It offers a variety of denim products, including knit denim, basic denim, lightweight shirting, classical twill denim and dobby.
The company has successfully expanded its market presence by exporting its products to more than 15 countries, thereby diversifying its revenue sources and helping it gain a foothold in the international market.
According to recent estimates, the global denim industry is projected to grow at a CAGR of 5.81% from calendar year (CY) 2024 to CY 2032, reaching a market size of US$ 111.75 billion. Growth in North American markets due to consumers’ growing preference for contemporary denim styles is expected to drive growth in the industry.
In India, industry reports indicate a positive outlook for the denim sector, which is expected to expand due to rising per capita income among consumers. This growth is also being shaped by various trends, including the shift toward sustainable fashion.
Additionally, the Government of India has signed a Trade and Economic Partnership Agreement (TEPA) with the European Free Trade Association in FY24. This initiative is expected to increase textile exports and especially denim exports, which bodes well for the company.
Stock up 233% since March 2023
The company’s shares have been on a strong rise since March 2023, resulting in a notable gain of 233%. In September alone, the stock surged 44%, its biggest monthly gain since July 2021. 7.35 per share last month.
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