The Microcap stock rose 4.2 percent to an intraday high of Rs 469 from its previous close of Rs 450 on Tuesday after the company announced it had received a purchase order from BEL.
According to Vinyas Innovative Technologies’ filing, the company has received a purchase order worth Rs 26.25 crores from BEL Bengaluru and Chennai units and the purchase order has to be fulfilled within 12 months from the date of order.
According to the Vinyas Innovative Technologies report, the net revenue increased by 20 percent year over year, from Rs 113.69 crore in Q2FY23 to Rs 137.25
In addition, the company’s net profit rose by 86 percent year over year, from Rs 3.02 crores in Q2FY23 to Rs 5.64 crores in Q2FY24.
Vinyas Innovative Technologies is a microcap company with a market capitalization of Rs 566 crores. The company’s promoter holds around 30 percent of the company.
The company has a lower price-to-earnings ratio is 77.12 compared to its peer companies. The net profit margin is higher than the historical 3 years of net profit margin.
Vinyas Innovative Technologies was a newly listed company, since the Initial Public Offering (IPO) the share price of the company rose around 30 percent to its current level.
Additionally, the company has a return on equity of 21 percent and, a return on capital employed of 17 percent, also the company has improved its Debtor days from 61.6 to 32.6 days.
Vinyas Innovative Technologies Limited, established in 2001, offers design, engineering, and electronics manufacturing services. Vinyas has been recognized as a game changer in the EMS industry for its innovative and ground-breaking in-house solution to complex manufacturing processes. The company’s preferred partner in the electronic industry for global OEM and ODM manufacturers.
Written by Sriram KV
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