The shares of leading electrical panel manufacturer climbed by 5.5 percent from an intraday high of Rs 294.95 apiece from its previous close, after it received an order worth Rs 10 crores from JK Cement Limited.
What happened:
According to Shivalic Power Control Limited’s stock exchange filings, the company announced that they have been awarded an order worth Rs 10 crores from JK Cement Limited for LT panels which is expected to be completed by November 2024.
Share price movement:
The shares of Shivalic Power Control Limited generated a negative return of 14.45 percent over the past month. Despite the positive news, the shares of the firm fell around 3 percent trading at Rs 271 levels at 1:56 pm on Thursday. Shivalic was recently listed on NSE SME on July 1, 2024, with the IPO price band set at Rs 95 to Rs 100 per share.
Financials:
Sales of Shivalic Power Control Limited grew by 130 percent from Rs 31 crores in H1FY24 to Rs 71 crores in H2FY24. Also for the same period, the net profits grew by 167 percent from Rs 3 crores to Rs 8 crores.
Ratios:
As of March 2024, ROE and ROCE of Shivalic power stood at 27 percent and 39 percent respectively. The total debt-to-equity ratio of the firm stood at 0.78 times.
Client base:
Shivalic Power caters to various clients such as Yamaha, Tata Steel, Honda, Hero, Godrej, JSW, HP, Dabur, Aditya Birla group, etc.
Product Portfolio:
Its product portfolio includes CC Panels, IMCC Panels, Smart Panels, MCC Panels, DG synchronization panels, Outdoor Panels, HT Panels up to 33KV, VFD Panels, etc.
Shareholding Pattern:
As of June 2024 the firm’s shareholding pattern stood at 70.86 percent held by the promoters, 17.15 percent held by the public, 4.88 percent held by foreign institutional investors, and 7.11 percent held by domestic institutional investors.
About the Company:
Founded in 2004, Shivalic Power Control Limited manufactures a wide range of electric panels. The firm also exports to various countries such as Mongolia, Nepal, Thailand, Sri Lanka, Nigeria, Kenya, Bangladesh, Sudan South Africa, Afghanistan, and Algeria.
Written By Zahal
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