The shares of the largest direct online authorized and exclusive distributor hit 5 percent upper circuit of Rs 74.85 apiece after the company’s net profit and revenue increased by 5,464 percent and 180 percent YoY, respectively in the fourth quarter.
With a market capitalization of Rs 31.52 crore, the shares of Gretex Industries Ltd were trading at Rs 74.8 per share, increasing around 5 percent as compared to the previous closing price of Rs 71.30 apiece.
Looking into the company’s performance, Gretex Industries Ltd’s revenue increased by 66 percent on a quarter-on-quarter basis from Rs. 17.98 crore in Q3FY24 to Rs.30 crore in Q4FY24. Further, revenue increased by 180 percent year on year, from Rs. 10.73 crore in Q4FY23 to Rs. 30 crore in Q4FY24.
Gretex Industries Ltd’s net profit increased by 1,589 percent on a quarter-on-quarter basis, from Rs. 0.56 crore in Q3FY24 to Rs. 9.46 crore in Q4FY24. Further, net profit increased by 5,464 percent year on year from Rs. 0.17 crore in Q4FY23 to Rs. 9.46 crore in Q4FY24.
The company’s profitability measures show an incline in return on equity (RoE) from 13.38 percent in FY 21-22 to 13.79 percent in FY 22-23, while, during the same period return on capital employed (RoCE) increased from 10.08 percent to 18.73 percent. In contrast, the net profit margin (NPM) was 2.94 percent in fiscal year 22-23.
In the company’s recent shareholding pattern, the Promoters of the company own 52.99 percent while Retail shareholders own a 47.01 percent stake in the company.
Gretex Industries Limited trades musical equipment. The company is the exclusive authorized distributor of musical instruments (MI), professional audio (PA), and audio visual (AV) equipment in Eastern and Northeastern India for globally recognized brands such as Yamaha, D’addario, Harman, Alphatech, and Sennheiser.
Written by:- Abhishek Singh
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