The shares of the metallic flexible flow solution provider gained up to 4 percent after the company announced the Phase II capacity expansion plan for the metallic flexible flow solution worth Rs 39 crore.
With a market capitalization of Rs 1,637.20 crore, the shares of Aeroflex Industries Ltd were trading at Rs 127.10 per share, increasing around 1.40 percent as compared to the previous closing of Rs 125.35 apiece.
According to the company filing, Aeroflex Industries Ltd has an installed capacity of 12.5 million per year as of December 2023. In Phase I of the expansion plan for metallic flexible flow solution, the business raised its installed capacity to 13.5 million meters, which was completed on schedule.
Furthermore, the Phase II expansion plan of the Company is to increase its installed capacity from 13.5 million meters p.a. to 16.5 million meters p.a. The Phase II expansion plan is expected to be completed by December 2024, with an investment of approx. Rs. 39 Crores which will be funded through internal accruals.
Looking into Aeroflex Industries Ltd, the company’s revenue increased by 11 percent, from Rs 65.89 crore in Q3FY23 to Rs 73.12 crore in Q3FY24. During the same period, net profit increased by 76 percent, from Rs 5.15 crore to Rs 9.06 crore.
Ace investor Ashish Kacholia holds 23,21,825 shares, i.e. equivalent to 1.80 percent of the company as of December quarter 2023.
The company’s production volume increased from 1.80 Mn Mtrs to 2.98 Mn Mtrs, representing a 65.45% increase, and export sales increased by an impressive 26%, indicating robust performance that demonstrates the company’s strong profitability growth momentum continues due to an increase in fire sprinkler and new-age businesses.
Aeroflex Industries Ltd. reported return ratios in the recent financial year with a return on equity (ROE) of 34.6 percent and a return on capital employed (ROCE) of 32.4 percent.
Aeroflex Industries Limited is an Indian manufacturer of metallic flexible flow systems composed of stainless steel. The company manufactures and supplies metallic flexible flow solution products to both global and local markets. The company manufactures stainless steel flexible hoses with and without braiding, as well as assemblies.
Written by:- Abhishek Singh
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