The shares of a leading electrical equipment firm touched a 5 percent upper circuit after the company reported a net loss to a profit of Rs 12.51 crores, YoY.
With a market capitalization of Rs. 1,345 crores, the shares of Hind Rectifiers Ltd were closed at Rs. 785.35 a piece up by 4.6 percent.
The fluctuations in the share prices were observed after the company announced their financial results for Q4 FY23-24 and FY24, through the recent filings with the stock exchanges.
The revenue from operations stood at Rs. 151.35 crore in Q4 FY23-24, indicating a growth of 35.64 percent from Rs. 111.58 crore in Q4 FY22-23.On a YoY basis, it increased by 44.1 percent from Rs. 359 crores in FY22-23 to Rs 517 crores in FY23-24.
Additionally, the company also witnessed a rise in its net profit to Rs. 5.11 crore in Q4 FY23-24, increasing from a net loss of Rs. 2.45 crore in Q4 FY22-23.On a YoY basis, the company reported a net loss of Rs 6.36 crores in FY22-23 to a net profit of Rs 12.51 crores in FY23-24.
The company has recommended a final dividend of Rs 1.20 per equity share (60% of the face value of 2% each), for the financial year 2023-24.
The shares of this company generated an overall multi-bagger return of 165.26 percent over the past year and 24.92 percent over the past 6 months.
As of March 2024, its shareholding pattern stood at 44.05 percent for promoters, 50.17 percent for the public, 0.02 percent for domestic institutional investors, and 5.76 percent for foreign institutional investors.
The company derives its revenues primarily from two types of products i.e. the railway related products and the Industrial related products.
Under the railway segment, the company manufactures products such as traction and aux transformers, traction motors, electrical switchboards, etc. Under the Industrial segment, the firm manufactures products such as high-current rectifiers, electrostatic precipitators, special rectifiers, and Active harmonic filters.
Headquartered in Mumbai, Hind Rectifiers Ltd is a leading electronic company that is primarily engaged in the business of manufacturing railway-related,industrial-related products and power semiconductors. The company was incorporated during the year 1958.
Written by Zahal
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