Multibagger Semiconductor stock hits 10 percent upper circuit in the day’s trade after it receives approval from the Government of Odisha for the establishment of manufacturing, fabrication and packaging facility for SiC devices with an investment of Rs. 510.80 Crores.
In the day’s trade the shares of RIR Power Electronics Limited hit 10 percent upper circuit at Rs. 660.80 per share and its market capitalization is Rs. 459 Crores.
As per the company’s filing, RIR Power Electronics Limited has announced that it has received approval from the Government of Odisha for the establishment of manufacturing, fabrication and packaging facility for SiC devices at Info Valley, Khordha, Odisha with an investment of Rs.510.80 Crores. SIC is a semiconductor base material that consists of pure silicon and pure carbon, which is used to manufacture the semiconductor.
It has delivered a multibagger returns of 115 percent in a year and 71 percent in the last six months. A shareholders investment of Rs. 1 Lakh in the company would be worth Rs. 2.15 Lakh in a year.
The company’s revenue grew 35.44 percent from Rs. 42.33 Crores in FY22 to Rs. 57.33 Crores in FY23, accompanied by increasing profits of Rs. 2.81 Crores to Rs. 5.97 Crores.
It has reported a return on equity (ROE) of 20.19 percent and a return on capital employed (ROCE) of 14.97 percent, it is making good returns on its equity and capital employed.
RIR Power Electronics Limited is engaged in the manufacturing and selling of various power semiconductor devices such as bridges, power modules, diodes , rectifiers and thyristors and it also has a product portfolio that includes low-power to high-power devices and IGBT Modules that find applications in Welding, elevators, Battery Charges, Railways, Medical equipment, etc.
Written by: Bharath K.S
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