Microcap stock engaged in the business of manufacturing and exporting Cold Rolled Stainless Steel Strips and many more hit 20 percent upper circuit upon announcement of expansion plans.
In the day’s trade, the shares of Quality Foils(India) Limited hit a 20 percent upper circuit at Rs. 122.40 and its market capitalization is Rs. 33 Crores.
Quality Foils(India) Limited has started the purchase and installation of new machinery with an estimated cost of Rs. 20 Crores, for expansion of the business by increasing the production capacity and efficiency of the company.
The main aim is to broaden the range of products offered, including value-added products, to meet the escalating demand within both local and global markets. The new machinery will enable the company to produce high-quality and innovative products that will enhance its competitive edge and customer satisfaction.
Quality Foils(India) is engaged in the business of manufacturing and exporting Cold Rolled Stainless Steel Strips/ Coils and Stainless Steel Flexible Hoses/pipes.
Its revenue from operations grew by 3.66 percent from Rs. 179.79 Crores in FY22 to Rs. 186.36 Crores in FY23, accompanied by increasing profits of Rs. 1.62 Crore to Rs. 3.19 Crores.
It has reported a return on equity (ROE) of 7.42 percent and a return on capital employed (ROCE) of 8.31 percent, it is making decent returns on its equity and capital employed.
Written by: Bharath K.S
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