Stock held by Vijay Kedia engaged in providing robotic and automation solutions for Industrial Automation and many others jumped upto 10 percent in the day’s trade following NSE approval for the migration of trading company’s shares from SME to mainboard of NSE.
Price Action
With a market capitalization of Rs. 736 Crores, the shares of Affordable Robotic & Automation Limited were trading at Rs. 655 per equity share, up 5.5 percent from its previous day’s close price of Rs. 621.30.
What Happened
Affordable Robotic & Automation Limited has announced that it has received in-principle approval from the National Stock Exchange of India Limited (NSE) for migration of trading in the equity shares of the Company from the SME Platform (EMERGE) to the Main Board of NSE.
About the Company
Affordable Robotic & Automation Limited is an automation solution provider for industrial automation needs such as Line Automation, assembly lines, conveyors, robotic inspection stations, pick and place systems, auto assembly stations, hydraulic, gauges, and fixtures.
Its products and services include one-stop parking solutions, industrial automation and warehouse automation one-stop parking solutions, industrial automation, warehouse automation, maintenance services, and many more.
Ace Investor Investment
Ace Investor Vijay Kedia holds a 9.93 percent stake in the company consisting of 11.16 Lakh equity shares. He made a fresh entry into the company in September 2018 by purchasing a 10.53 percent stake in the company consisting of 10.72 lakh equity shares.
Financials and Ratios
Its revenue from operations grew by 34.22 percent from Rs. 122 Crores in FY23 to Rs. 150 Crores in FY24, accompanied by profits of Rs. 4 Crores to Rs. 6 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 7.67 percent and a return on capital employed (ROCE) of 9.78 percent. In terms of liquidity ratios, it has reported a debt-to-equity ratio of 0.44.
Written by: Bharath K.S
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