Shares of this small-cap Automobile stock jumped up to 18 percent after the company posted its financial results for the quarter ended June 2023. In the last six months, the company’s scrip has gained about 74 percent from Rs 728.25 to the current price level.
With a market capitalization of Rs 1,830 crores, the stocks of SML Isuzu Limited opened their trading hour on Friday at Rs 1,100 and had a flat movement in prices, but, post 1:00 PM, the stock saw a sudden jump in prices and currently trade at Rs 1,253.45.
The scrip saw an intra-day high, also recorded as the company’s fresh 52-week high mark, of Rs 1,289.70, a gain of approximately 18 percent as compared to the previous closing levels of Rs 1,095.15 apiece.
Such sharp movements in the stock prices were witnessed after the company, through a regulatory filing with the BSE, announced the financial results for Q1FY23-24.
On a sequential basis, the operating revenues, as well as net profits, increased with the former moving up from Rs 583.2 crores during Q4FY22-23 to Rs 631.6 crores during Q1FY23-24, and, the latter taking a shift from Rs 26.7 crores to Rs 31.8 crores.
Comparing Q1FY22-23 and Q1FY23-24, the metrics stated above showed positive movements with the operating revenues increasing from Rs 500.1 crores to Rs 631.6 crores, and, net profits going up drastically from Rs 2.3 crores to Rs 31.8 crores indicating an increase of around 1,283 percent.
The latest shareholding pattern data of the company portrays the Promoters holding a 43.96 percent stake, and the Foreign Institutional Investors (FIIs) holding a considerable stake of 15.11 percent in the company.
Conducting business activities through India, SML Isuzu Limited is engaged in the business of manufacturing as well as selling commercial vehicles and other related spare parts. The company’s product portfolio includes buses and trucks and also provides special application vehicles such as 4X4 trucks, ambulances, dumper placers, etc.
Written by Amit Madnani
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