The share price of this auto-ancillary firm gained 4.2 percent to an intraday high of Rs 574.65 per share on Monday after the company acquired 4,335 sq mt land to set up the new die-casting component facility.
With a market capitalization of Rs 694.61 crores, at 1:30 pm, the shares of Pavna Industries Ltd company moved up by 3.4 percent, trading at Rs 570.25 a piece on Monday’s afternoon session. Comparing today’s high of Rs 574.65 per share and to a previous close of Rs 551.30 per share, the stock jumped up by 4.2 percent.
According to the company’s exchange filings, Pavna Industries has acquired 4,355 square meters of industrial land in Pantnagar. The land will be used to set up a new plant for die-cast components as part of the company’s expansion plans. This new plant aims to attract business from various original equipment Manufacturers (OEMs) in and around Pantnagar.
Pavna Industries plans to use the location’s benefits to strengthen its position in the automotive sector and better serve its key client Bajaj Auto. This new plant will help to reduce costs and improve supply chain efficiency for Pavan Industries Limited.
Analyzing the financials of the company, The revenue from operations increased by 2 percent from Rs. 79.8 crores in Q3FY24 to Rs. 81.4 crores in Q4FY24. On a year-on-year basis, it decreased by 11.6 percent from Rs. 359 crores in FY22-23 to Rs 317 crores in FY23-24.
The net profits of the company also witnessed an increase of 33.1 percent from Rs. 2.20 crores in Q3FY24 to Rs. 2.93 crores in Q4FY24. On a year-on-year basis, it increased by 33.3 percent from Rs. 9 crores in FY22-23 to Rs 12 crores in FY23-24.
The shares of this company generated an overall return of 69.6 percent over the past year and 42.2 percent over the past 6 months.
The company’s major clients includes Bajaj, Kawasaki, Honda, and TVS and the company also has Strategically located its Distribution network in 17 states across India.
The company has plans to focus on key areas such as improving operational efficiencies and margin expansions. For product development, they have plans to keep adding new products and continue developing value-added products.
As of March 2024, its shareholding pattern stood at 70.44 percent for promoters and 29.56 percent for the public.
Headquartered in Aligarh, Pavna Industries Ltd is a Auto Anciliarry company that was established in the year 1994. The company offers a comprehensive portfolio in the automotive industry which includes essential components and engine parts as well as solutions for latches and handles.
Written By Zahal.
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