On Thursday, shares of electrical equipment manufacturer hit 5% upper circuit after announcing the acquisition of Reciclar Technologies Pvt. Ltd. and its start-up venture, Memtrix Technologies LLP. It delivered a multibagger return of 464.24 percent in one year.
With a market capitalization of Rs 764 crore, Taylormade Renewable Ltd shares hit 5% upper circuit at second half of trading day to Rs 689.60 per share.
According to the company exchange filing, Taylormade Renewable Lts. has announced to acquire these two ahmedabad based companies, Reciclar Technologies Pvt. Ltd. and its start-up venture, Memtrix Technologies LLP.
Reciclar Technologies Pvt. Ltd. is engaged in the design and construction of sewage treatment plants, effluent treatment plants, wastewater treatment plants, and water recycling systems.
On the other hand, Memtrix is a manufacturing company that sells hollow fibre membranes for the treatment, recovery, and recycling of water, providing systems with a pan-India global presence.
On a yearly basis, revenue from operations increased by 226 percent from Rs 6.07 crore in FY22 to Rs 19.79 crore in FY23, and in the same period, net profits increased by 1131 percent from Rs 0.16 crore to Rs 1.97 crore.
The shareholder pattern of the company shows that 63.09 percent is held by the promoter, and the remaining 36.91 percent is held by the public.
Taylormade Renewable Ltd., an Indian-based company founded in 2010, specialises in offering renewable energy solutions. Their services include manufacturing Solar Parabolic Concentrating Systems, which are used for steam generation in steam cooking and various industrial applications. These systems also support direct or indirect heating, such as solar air-conditioning, space heating, drying, waste water evaporation, and other thermal energy applications.
Written By Praveen R
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