Shares of One Point One Solutions Ltd witnessed a significant jump today, opening at ₹41.50 and soaring to ₹47.50 on the NSE Emerge platform. This rally follows the company’s announcement of the establishment of its new subsidiary, One Point One Singapore Pte Ltd, with an initial investment of one Singapore Dollar by the parent firm.

The Indian-based company has been performing exceptionally well over the past year, with its stock being labeled a multi-bagger – an investment that has more than doubled in value. The financial growth rates reflect a robust trajectory with annual returns of 212.50% and year-to-date (YTD) returns of 197.81%.

Further bolstering investor confidence, One Point One Solutions reported a strong financial performance for the second quarter of FY24:

Net sales increased by 14.62%, totaling ₹39.88 crore (INR10 crore = approx. USD1.2 million).
Net profits saw a dramatic rise, tripling to ₹5.95 crore, which is an increase of 210.62%.
EBITDA also surged by 71.45%, reaching ₹14.83 crore.
Earnings per share (EPS) tripled from ₹0.10 to ₹0.30 when compared to the same quarter in the previous year.

The company’s strategic moves have been well-received by the market over time. In January 2022, One Point One Solutions rewarded its shareholders by issuing bonus shares at a ratio of one for every two held and executed a share split, reducing the face value from ₹10 to ₹2 after a five-for-one split.

Since its initial public offering (IPO) in 2017 on the NSE Emerge platform, One Point One Solutions has continued to attract investor interest and deliver substantial gains. The launch of its Singapore entity signifies the company’s ambition to expand its market presence internationally, which appears to have further fueled the ongoing six-month rally with returns surpassing 113%.