The shares of one of India’s Leading Manufacturers of High-End Lighting Solutions gained 18 percent to Rs 375 a share after the company announced strong Q2 results.
IKIO Lighting Ltd belongs to the Small-cap category with a market capitalization of Rs 2,890 crores. On Monday, company shares closed at Rs 333.95 a share, up 4.93 percent from the previous close price.
IKIO Lighting reported a 47 percent increase in revenue year on year, from Rs 80 crore in Q2FY23 to Rs 118 crore in Q2FY24. During the same period, net profit increased by 64 percent from Rs 11 crore to Rs 18 crore.
In comparison to the previous quarter, operational revenue increased by 9.2 percent from Rs 108 crore in Q1FY24 to Rs 118 crore in Q2FY24, Further net profit has increased by 28 percent from Rs 14 crore to Rs 18 crore. According to the company’s exchange filing.
According to Frost & Sullivan, IKIO Lighting has a 50 percent market share in the functional decorative lighting category in India and a 10 percent market share in the true-blue decorative lighting sector. And LED lighting accounts for 87 percent of the company’s total sales.
As per the latest shareholding pattern, the company promoters hold a 72.46 percent stake in the company, while Domestic Institutional Investors hold an 8.17 percent stake. And retail investors have a 16.18 percent stake in the company.
IKIO Lightings is an integrated manufacturer in the LED lighting market that offers original design manufacture (ODM) services for LED lighting, refrigeration lights, ABS pipework, and other products.
Written by Omkar Chitnis
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