The shares of this microcap company locked a 5 percent upper circuit in Monday’s trading session after receiving an order worth Rs. 105 crores from Kalyan Jewellers India and other entities.
Price Movement:
With a market capitalization of Rs. 256 crores, the shares of Ashapuri Gold Ornament Ltd started Monday’s trading session on a higher note at Rs. 7.68, clocking a 5 percent upper circuit compared to its previous close of Rs. 7.32 apiece.
What Happened:
Such a bullish movement in the share price was observed after the company in an exchange filing announced that it had received an order for the supply of Antique Gold Jewellery worth Rs. 105 crores from Malabar Gold Ltd, Kalyan Jewellers India Ltd., Tribhovandas Bhimji Zaveri Ltd. and other renowned entities.
Financials:
Looking at the company’s financial statements, the revenue decreased by around 13 percent from Rs. 50.70 crores in the March quarter to Rs. 44.23 crores during the June quarter. On the other hand, the net profits also declined by 13 percent from Rs. 3.08 crores to Rs. 2.69 crores during the same timeframe.
Manufacturing and Design
Ashapuri Gold Ornament designs its products internally or through third-party designers and manufactures its jewellery on a job-work basis in Ahmedabad and Rajkot. The company has a large inventory of designs, manufacturing expertise, and high-quality service.
Customer Base:
Ashapuri Gold Ornament Limited caters to a wide range of customers across different segments of the jewellery industry, including prominent names such as Malabar Gold, Tribhovanda Bhimji Zaveri Ltd, Titan, and others.
Important Financial Ratios:
In terms of key financial metrics, the company reported a Return on Equity (RoE) of 8.25 percent and a return on capital employed (RoCE) of 11.63 percent for the period spanning FY23-24. Furthermore, the net profit margin during FY23-24 was 4.49 percent.
Shareholding Pattern:
According to the latest shareholding pattern, that Promoters hold 48.06 percent of the shares, Retail Investors own 50.19 percent, and Foreign Institutional Investors (FIIs) hold the remaining 1.74 percent.
Company Profile:
Incorporated in 2008, Ashapuri Gold Ornament Ltd is in the business is manufacturing & trading Gold Ornaments and articles of various designs.
Written By Vaibhav Patil
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