The shares of an emerging leader in Brass part manufacturing gained up to 5 percent after the company announced that they received purchase orders worth Rs 22.5 million for the supply of Brass parts.
With a market capitalization of Rs 217.86 crore, the shares of Sprayking Agro Equipment Ltd were trading at Rs 206.15 per share, increasing around 1 percent as compared to the previous closing price of Rs 204.15 apiece.
According to the company filing, Sprayking Agro Equipment Ltd has received a purchase order worth Rs 22.5 million for the supply of Brass parts. This significant purchase order demonstrates the faith and confidence that industry leaders have in Sprayking Agro’s workmanship, dependability, and commitment to producing great goods.
Looking into the company’s finances, Sprayking Agro Equipment Ltd’s revenue increased by 909 percent from Rs 3.22 Crore in Q2FY23 to 32.51 Crore in Q2FY24. During the same period, net profits increased by 1,726 percent from Rs 0.15 crore to Rs 2.74 crore.
The stock has delivered a multi-bagger return of 38.94 percent in six months and 731.54 percent in a year. As a result, if an investor purchases Rs 1 lakh in the firm, their shares are now worth Rs 8.31 lakh after a year.
Sprayking Agro Equipment Ltd reported a rise in return ratios from the previous fiscal year, including an increase in return on equity (ROE) from 3.88 percent to 10.04 percent and an increase in return on capital employed (ROCE) from 5.21 percent to 13.82 percent.
The organization intends to grow its footprint in other parts of India as well as the global market. Through a combination of greater capacity utilization, cost savings, a broader selection of products that adhere to global standards, marketing activities, competitive pricing, and more effective resource usage.
Sprayking Agro Equipment Ltd trades and exports brass products such as brass sanitary fittings and brass agricultural equipment.
Written by:- Abhishek Singh
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