On Wednesday, the shares of one of India’s leading firm that is engaged in the manufacture of watch components soared around 8 percent to an all-time high price of Rs 2,989.65 per share after the company announced strong Q2 results.
At 2:30 p.m., KDDL Ltd shares were trading at Rs 2,892.75 a share, up Rs 132.95 or 4.82 percent on the National Stock Exchange, the company has a market capitalization of Rs 3,626 crores.
According to the company’s exchange filing. KDDL Ltd reported a 30 percent increase in revenue year on year, from Rs 260 crore in Q2FY23 to Rs 339 crore in Q2FY24. During the same period, net profit jumped by 433 percent from Rs 6 crore to Rs 32 crore.
In comparison to the previous quarter, operational revenue increased by 2.5 percent from Rs 331 crore in Q1FY24 to Rs 339 crore in Q2FY24, Further net profit has marginally decreased from Rs 32.8 crore to Rs 32.6 crore.
KDDL shares have delivered a multibagger return of 160 percent in the last six months and 190 percent in a year. A shareholder investment of Rs 1 lakh in the company, would be worth Rs 2.60 lakhs in six months and Rs 2.90 lakhs in a year.
The Company’s Net profit margin has increased from 4.55 percent in FY22 to 6.83 percent in FY23, while its operating margin rose from 9.44 percent to 11.70 percent during the same period.
KDDL Limited is engaged in the manufacture and trade of watches and their components in India, Switzerland, and Hong Kong. It primarily offers watch dials, and watch hands. The company also offers precision stamping parts and tools for the electrical, electronics, telecommunications, automobile, etc
According to the latest shareholding pattern, the company promoter holds a 50.21 percent stake, Foreign institutional investors hold 12.34 percent, and retail investors 35.34 percent.
Written by Omkar Chitnis
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