Share price of a leading manufacturer of Twisting Machines moved up by nearly 5.82% to Rs. 54.50 in the morning trading session of Tuesday, compared to its previous close of Rs. 51.50, after the company received two export orders.
With a market capitalisation of Rs. 55.53 crores, at 11:40 a.m. the shares of MEERA Industries Limited were trading in the green at Rs. 52.49, up by 1.92 percent.
In the last one year, the company has delivered positive returns of nearly 34.6 percent and more than 26.6 percent of returns in the last six months. So far in 2024, it has given positive returns of around 36.16 percent.
According to recent regulatory filings with the BSE, MEERA Industries Ltd. has secured two significant export orders, further strengthening its position as a global leader in the industry.
The first order comes from Bonip Tekstil Sanayi Ve Ticaret A.S., based in Turkey, for the Ring Twister machine for the application of knitted yarns for garments, hosiery, and carpets, valued at approximately Rs. 71.11 lakh.
The second order, valued at roughly Rs. 98.63 lakh, comes from Siam Brothers Corporation Ltd., based in Thailand, for the TPRS-Twister machine for fishing net applications.
These orders demonstrate the company’s commitment to worldwide expansion and ability to deliver innovative solutions that fit the different demands of its global clientele.
The project, which totals around Rs. 1.69 crores, is scheduled to be completed in the first quarter of the financial year 2024-25.
In terms of financials, the revenue from operations of the company grew by 12.07 percent QoQ from Rs. 6.79 crore in Q2 FY23-24 to Rs. 7.61 crore in Q3 FY23-24.
The net profit of the company is Rs. 0.46 crore in Q3 FY23-24, a growth of 43.75 percent on a quarter-on-quarter basis from Rs. 0.32 crore in Q2 FY23-24.
MEERA Industries Limited, a leading manufacturer of Twisting Machines, serves the diversified demands of the textile and related sectors.
Incorporated in 2006, the company designs, develops & manufactures high-tech textile machinery that provides smart solutions, operational reliability, quality, and economic effectiveness.
Written by Shivani Singh
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