The shares of a leading electrical wires and cables manufacturer touched 5% upper circuit limit following the company’s announcement to acquire 8,200 square meters of land for plant expansion.
With a market capitalization of ₹651 crore. On Tuesday, V-Marc India Ltd shares hit 5% upper circuit to ₹285.50 per share on the National Stock Exchange.
What Happened:
According to V-Marc India Ltd’s exchange filing, the company has entered into an agreement to acquire 8,200 square meters of land near its existing project in Village Kaliar, Tehsil Roorkee, District Haridwar, Uttarakhand. This acquisition is intended for expansion and new projects in the pipeline.
About the company:
V -Marc India Ltd manufactures PVC Insulated Wires & Cables. The company specializes in a variety of products, including low tension (LT) and high tension (HT) cables, communication cables, and flexible wires, catering to both domestic and industrial markets.
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Financials:
V -Marc India Ltd reported a 130% year-on-year increase in revenue, rising from ₹245 crore in FY 22-23 to ₹565 crore in FY 23-24. The company’s net profit surged by 170%, climbing from ₹10 crore to ₹27 crore over the same period.
In the past 12 months, V-Marc India Ltd shares have risen by 182% and in last three months the share have gained 77%.
In FY24, the company reported a net profit margin of 4.75%. Additionally, return ratios improved significantly, with Return on Capital Employed (ROCE) rising from 23.42% in FY23 to 34.45% in FY24, and Return on Equity (ROE) increasing from 13.10% in FY23 to 25.20% in FY24.
Written by Omkar Chitnis
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