Shares of this micro-cap company were recently listed on the NSE on 24th September at a 30 percent premium above its issue price and have signed a Memorandum of Understanding (MOU) with Earkart Private Limited for the distribution of hearing aids across India.
Share Price Movement
In Tuesday’s trading session, Osel Devices Limited’s share price debuted at Rs.198.5 per share, subsequently climbing to Rs.207.95 apiece and reaching the 5 percent upper circuit limit. The issue price for the shares was Rs.160, and the IPO had a lot size of 800 shares.
What is the news
On the very day of its listing, OSEL Devices Limited signed a Memorandum of Understanding (MOU) with Earkart Private Limited, appointing Earkart as the exclusive retail distributor of hearing aids in India for two years.
Earkart will oversee the distribution, marketing, sales support, and training for OSEL’s hearing aid products through its retail network.
This partnership will allow OSEL to extend its reach to end-users, enhancing accessibility for individuals with disabilities and the elderly. The collaboration aims to provide high-quality products at lower prices, ultimately increasing OSEL’s market presence, turnover, and profitability.
Business Segments
The company operates in two major divisions, LED display systems, contributing 70 percent of FY24 revenue, used in advertising and presentations, and Hearing Aids, which account for 30 percent of FY24 revenue, primarily serving the Artificial Limbs Manufacturing Corporation of India.
Manufacturing Facility
Osel’s manufacturing facility in Greater Noida has an annual production capacity of 15,000 square feet for LED display systems and 4,00,000 units of hearing aids.
Reputed Clientele
Osel’s notable clients include Rado, Adidas, ISKCON, NBCC, Nalco, BPCL, HPCL, IOCL, Lulu, and PVR, among others.
Financials
Turning to the financials of Osel Devices, the company reported revenue of Rs.106.06 crore for the period ended December 2023, compared to Rs.81.88 crore in FY23, marking a 25.5 percent year-on-year growth from Rs.65.24 crore in FY22. Profit After Tax (PAT) stood at Rs.8.86 crore for the period ended December 2023, and Rs.4.66 crore in FY23, 56 percent up from Rs.2.98 crore in FY22.
Company Profile
Osel Devices Limited is an Indian company specializing in the manufacturing of LED display systems and hearing aids. Based in Greater Noida, Uttar Pradesh, it has established itself as a key player in the technology sector, particularly in digital signage and assistive devices.
Written by – Siddesh S Raskar
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