Penny stock in focus as company enters into agreement to facilitate Atul Purohit's cultural program with Rishabh Entertainment for USD 55,000

Tavernier Resources Limited has 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.

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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 Rs 36 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 multibagger-solar-stock-jumps-as-board-is-likely-to-announce-stock-split-scrip-trades-at-high-roe-high-roce-id001-52018">ROE of 41 per cent and an ROCE of 41 per cent. The stock is up by 69.3 per cent from its 52-week low of Rs 35.58 per share and has given multibagger returns of 500 per cent in 2 years.

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