The Small-cap company rose 1.8 percent to its intraday high of Rs 180.95 per share from its previous close of Rs 177.75 on Thursday, the company’s promoter acquired a 3.5 percent stake in the company after the market hours.
In the filing of JTEKT India Ltd, the company promoter JTEKT Column System Corporation also known as Fuji Kiko Co Ltd bought 98 Lakh equity shares which is 3.85 percent of the company, in the allotment of shares to the order of the national company law tribunal.
According to the company report, the net revenue increased by 2.2 percent year over year, from Rs 571 crore in Q2FY23 to Rs 14.03 crore in Q2FY24. Their revenue rose by 22 percent sequentially from Rs 478 crore in Q1FY24 to the current levels.
In addition, the company’s net profit remains unchanged year over year, from Rs 30 crores in Q2FY23 to Rs 30 crores in Q2FY24. Their profit decreased by 57 percent on a quarterly basis from Rs 19 crore in Q1FY24 to the current levels.
The small-cap stock has a market capitalization of Rs 4,315 Crores, and the share price of the company rose by 22 percent in the last year.
JTEKT India Ltd has a low price-to-earnings ratio of 52 compared to its peers and it has a low debt-to-equity ratio, of 0.08, with a return on equity of 13 percent, a return on capital employed of 16 percent, and a net profit margin of 4 percent.
The company promoter owns 74 percent of the company, the general public owns 17.1 percent, foreign institutional investors own 0.4 percent, and domestic institutional investors own 8.5 percent.
JTEKT India Ltd is primarily engaged in the manufacturing of steering systems and other auto components for passenger car and utility vehicle manufacturers in the automobile industry.
Written by Sriram KV
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