From Rs 52 to Rs 108: This multibagger micro-cap auto ancillary stock doubled in less than four months!

The shares of Autoline Industries have been on a fast track. The company’s stock had corrected 20 per cent in the first three weeks of June 2022 to record a low of Rs 52.25 per share on NSE. Since then, the scrip has more than doubled. 

On Friday, the scrip froze at a 10 per cent upper circuit, touching an all-time high of Rs 108.95 per share on NSE. The stock has rallied 16.09 per cent over the last five trading sessions. 

Established in 1996, Autoline Industries Ltd is a prominent Pune-based leading auto components manufacturer & supplier to original equipment manufacturers (OEMs) and automobile companies with a presence in both domestic as well as international markets. 

The company caters to almost all major OEMs by supplying over 1,500 products for the passenger cars & commercial vehicles segment along with other non-auto segments. 

In Q1FY23, the company continued to witness rising demand across PV and CV segments, resulting in high double-digit growth. The overall volume growth, productivity improvement, and cost-saving measures helped in achieving higher EBITDA margins.  

Over the last few quarters, the company expanded its customer base, enhanced its product portfolio by diversifying into e-vehicles & railway business, and has been making efforts to improve operational efficiency as well as cost. 

Investors should keep this buzzing multi-bagger micro-cap auto ancillary stock on their radar!