The share price of this small-cap company hit 5 percent after the company acquired a 5 percent stake in Anshuni Commercials as well as the HAL aircraft division registered with the company to outsource some of its products.
On Tuesday’s early trade, Nibe Ltd shares hit a 5 percent upper circuit to an all-time high price of Rs 796.40 apiece, the company has a market capitalization of Rs 1,046 crores.
Nibe Ltd acquired a 5% stake in Anshuni Commercials, under the Share Purchase Agreement (SPA) dated November 01, 2023, said it has procured 60,000 equity shares of Anshuni Commercials, in line with the SPA terms,
On November 01, 2023. The Company has signed a definitive agreement to acquire the 5% stake in Anshuni Commercials Limited (“Anshuni”). The company reported in its exchange filing.
Also, Hindustan Aeronautics Limited’s Aircraft Manufacturing Division has registered the company to outsource the following activities: CNC Turning of Small and Medium Aero Components, CNC Milling of Big Parts, and GHE and GSE.
The company’s revenue has jumped by 140 percent yearly, rising from Rs 17 crore in Q2FY23 to Rs 41 crore in Q2FY24. Further, within the same period, Net profit increased by 200 percent from Rs 1 crore to Rs 3 crore.
NIBE shares gained 126 percent in the last six months and shares have gained 73 percent in a year. Nibe Ltd is in the business of manufacturing critical components for Defence, E-Vehicles, and Software Development.
The company is in the business of trading in electronic components, fabrication materials, job work relating to fabrication works consultancy in technical projects, etc.
In FY23, the Company received 94 percent revenue from domestic clients, while the rest of the revenue the company received from the international market.
Also, the company is a service provider in the field of design, supply, erection, testing, and commissioning of Low-voltage and medium-voltage lines having substations on a turnkey basis.
Written by Omkar Chitnis
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