Penny stock in focus as company enters into a digital marketing agreement with Jetech Consulting Inc. of Rs 22,02,000

Tavernier Resources Limited has entered into a one-year agreement with Jetech Consulting Inc., an international entity, to provide social media and other digital marketing services. The contract, which is part of Tavernier Resources' ordinary business operations, has a commercial consideration of approximately USD 25,000 (about Rs 22.02 lakh) in yearly fees. The specific terms and conditions will be mutually agreed upon by both companies.

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Earlier, the company entered into a contract with Rishabh Entertainment, an international entity, to act as a facilitator between them and music artist Atul Purohit for a cultural program. For this service, Tavernier Resources will receive a consideration of approximately USD 55,000 (Rs 48,49,707.56). This agreement falls under the ordinary course of business for the company.

Tavernier Resources Limited is primarily engaged in the trading of gems and jewellery, both within India and internationally. The company's business activities also include exporting cut and polished diamonds, trading in shares and securities, and real estate activities.

In Q1FY25, the company reported net sales of Rs 0.31 crore and net profit of Rs 0.16 crore and in FY25, the company reported net sales of Rs 0.26 crore and net profit of Rs 2.66 crore.

The company has a market cap of over Rs 30 crore with promoters holding 55.46 per cent and public shareholders holding 44.54 per cent. The shares of the company have a PE of 13x, an ROE of 41 per cent and an ROCE of 41 per cent. The stock is up over 70 per cent from its 52-week low of Rs 35.58 per share and has given multibagger returns of 470 per cent in 2 years.

Disclaimer: The article is for informational purposes only and not investment advice.