After the general business update on the company’s Electric Mobility Business for the year 2023, the share price of the small-cap company rose 8 percent to an intraday high of Rs 269 per share on Monday, up from its previous close of Rs 249.3.
Precision Camshafts Limited provided a general business update on some of their Electric Mobility Business in India (branded as EMOSS India) accomplishments in the 2023 filing.
Here are some of their EMOSS highlights as per their filling,
● Manufacturing Powerhouse: Expanding EV setup at Chincholi MIDC, Solapur & opening a state-of-the-art manufacturing facility with one-shift product conversion.
● Team of Innovation: EMOSS India’s team in Baner and Solapur welcomed diverse talents with varied skills and perspectives.
● Innovative EVs: Developed re-powered Tata Ace and Ashok Leyland Dost+, offering uncompromised payload and 100km range, as well as customized battery packs and range options for Indian needs and economics.
● Global Partnerships: Represented PCL and EMOSS at the Netherlands Economic Mission 2023 and cultivated key relationships with Dutch industry leaders in sustainable technology.
● Delivering the Future: Delivered electric LCVs to a wide range of customers across India, and collaborated on waste management with the municipal corporations of Pune and Solapur, as well as the Adar Poonawalla Clean City Initiative and the BVG Group.
● Also Collaborated with Soppa Logistics, Bluwheelz, Delhivery & Log9 Mobility for last-mile delivery and Future deliveries to Porter, LetsTransport & Magenta Mobility.
● Green Collaboration: Groundbreaking partnership with Log9 Scientific Materials for fast-charging battery technology and PCL sold a fleet of electric LCVs to Log9 Mobility, powered by Log9 batteries with 15 min* fast charge capability.
● Make in India Champion: Achieved over 90% localization from the first vehicle and vehicles built in India, for India, with proudly Indian-made components.
However, Looking at the financials of Precision Camshafts Ltd, their net revenue decreased by 10 percent year on year, from Rs 283.69 crore in Q2FY23 to Rs 254.46 crore in Q2FY24.
Additionally, the company’s net profit fell by 36 percent year on year, from Rs 13.19 crore in Q2FY23 to Rs 8.43 crore in Q2FY24.
The company has a low debt-to-equity ratio of 0.13, a return on equity of 6.6 percent, a return on capital employed of 8 percent, and a net profit margin of 4 percent. It also has a good current ratio of 1.96.
It is a small-cap company with a market capitalization of Rs 2,559 crores. The promoter owns 65 percent of the company, the general public owns 34 percent, foreign institutional investors own 0.11 percent, and domestic institutional investors own 0.13 percent.
Ace Investor Mr. Vijay Kishanlal Kedia holds 11 Lakh equity shares of Precision Camshafts Limited which is 1.16 percent of the company.
Precision Camshafts Limited, founded in 1992, is a manufacturer and supplier of camshafts in India and around the world. It offers over 150 different camshafts for passenger cars, tractors, light commercial vehicles, and locomotive engines.
Written by Sriram KV
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