Date: October 17, 2024 | By: Sandeep Bishnoi| Category: News
On October 16, 2024, Rajnish Wellness Limited, a penny stock priced under Rs 5, saw heavy buying activity and hit a 10% upper circuit, rising from Rs 3.01 to Rs 3.31 per share on the BSE. The stock, which has a 52-week high of Rs 14.69 and a low of Rs 2.82, witnessed a surge in trading volume, increasing by 2.75 times. This sharp price rise followed the company’s announcement of positive financial results for Q2FY25 and H1FY25.
Positive Financial Results Boost Stock
Rajnish Wellness reported a net profit of Rs 0.28 crore in Q2FY25 on net sales of Rs 17.42 crore, showing improvement compared to Q2FY24’s net profit of Rs 0.10 crore on net sales of Rs 18.51 crore. The company’s half-yearly results also showed growth, with H1FY25 net sales at Rs 33.72 crore and a net profit of Rs 0.45 crore, compared to Rs 27.02 crore sales and Rs 0.65 crore profit in H1FY24.
Expansion Plans for Increased Revenue
Rajnish Wellness is rapidly expanding its retail footprint across India, with plans to open 20 new Dava Discount outlets. These stores are expected to generate annual revenue of Rs 15 million to Rs 20 million each. Additionally, the company has secured a contract with Indian Railways to set up 270 Dava Discount stores in West Bengal, further strengthening its market presence in the healthcare sector.
Company Overview
Founded in 2015, Rajnish Wellness specializes in sexual wellness, personal care, and healthcare products. Its flagship brand “PlayWin” is a leader in the sexual wellness market. The company’s product range includes contraceptives, energy supplements, and personal care items, which are available in key states such as Maharashtra, Uttar Pradesh, Karnataka, and Bihar.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.
