The shares of this Industrial battery manufacturer soared 15.5 percent to hit a 52-week high price of Rs 332 a share after the company announced strong Q2 FY24 results.
With a market capitalization of Rs 8,674 crore. At 12:30 p.m., HBL Power Systems Ltd shares were trading at Rs 312.65 per share, up Rs 25.35 or 8.82 percent from the previous close price of Rs 287.30.
HBL Power Systems Ltd reported a 76 percent increase in revenue year on year, from Rs 318 crore in Q2FY23 to Rs 559 crore in Q2FY24. During the same period, net profit increased by 245 percent from Rs 20 crore to Rs 69 crore.
In comparison to the previous quarter, operational revenue increased by 19 percent from Rs 470 crore in Q1FY24 to Rs 559 crore in Q2FY24, Further net profit has increased by 35 percent from Rs 51 crore to Rs 69 crore. According to the company’s exchange filing.
In the recent financial year, the company reported a net profit margin of 7.09 percent and an operating margin of 9.76 percent.
HBLPower Systems Ltd shares have gained 201 percent in the last six months and 194 percent in a year. A shareholder investment of Rs 1 lakh in the company would be worth Rs 3.01 lakh in six months and 2.94 lakh in the year.
According to the recent shareholding pattern, the company promoters hold a 59.11 percent stake in the company, while Foreign Institutional Investors hold a 2.23 percent stake. And retail investors have a 38.58 percent stake in the company.
HBL Power System Ltd is engaged in the manufacturing and services of different types of batteries, e-mobility, and other products. The company’s product range includes Batteries Nickel Cadmium, Lead Acid, Lithium, and Silver Zinc.
Written by Omkar Chitnis
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