The small-cap stock company’s share rose by 2% Rs 85.84 per share from its intraday high on Thursday after the Company announced it acquired an infrastructure company.
Elpro International Limited has acquired 2,40,685 equity shares in JSW Infrastructure for Rs 5 crores. The target entity is Port & Port Services, and the reason for the acquisition is for investment purposes, with a consolidated turnover of Rs 3194.7 crores.
According to the company filing, net revenue increased 44.2 percent year on year, from Rs 24.44 crores in Q2FY23 to Rs 35.26 crores in Q2FY24. On a quarter-on-quarter basis, their revenue decreased 31 percent from Rs 51.49 crore in Q1FY24 to current levels.
Net profit fell 2.3 percent year on year, from Rs 18.67 crores in Q2FY23 to Rs 18.23 crores in Q2FY24. On a sequential basis, their net profit fell by 6.5 percent from Rs 19.5 crores in Q1FY24 to current levels.
Elpro International Limited, with a market capitalization of Rs 1,440 crores, is a small-cap company. When compared to its peer companies, the company’s price-to-earnings ratio is low at 28, and its debt-to-equity ratio is low at 0.10.
The promoters own 75 percent of the company, while foreign institutional investors own 13 percent and the general public owns 13 percent.
Elpro International Limited Company’s share price has risen by 32 percent in the last six months and by 25 percent year to date.
JSW Infrastructure Limited was established in 2006 and offers services related to the maritime industry, such as logistics, storage solutions, and cargo handling.
Elpro International Limited was founded on July 27, 1962. The Company is involved in a variety of business segments, including surge arrester manufacturing, real estate construction and development, equity investment in third parties, and windmill operations.
Written by Sriram KV
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
