Stock engaged in the trading of precious metals, stones, and jewelry along with a range of precious stone varieties to its clients, retailers, and wholesalers jumped 3 percent in the day’s trade following the acquisition of a majority stake in Petmojo.
Price Action
With a market capitalization of Rs. 220 Crores, the shares of Starlineps Enterprises Limited were trading at Rs. 8.48 per equity share, down 0.12 percent from its previous day’s close price of Rs. 8.49.
What Happened
The Board of Directors of Starlineps Enterprises Limited has considered and approved a strategic investment of Rs. 2.5 Million in Mangopaw Technologies and Solutions Private Limited(PETMOJO), therby securing a non-controlling equity stake of the Company in Mangopaw Technologies and Solutions Private Limited.
Mangopaw Technologies and Solutions Private Limited also known as PETMOJO is one of India’s Leading & Fastest Growing Pet Care Platform, Offering Doorstep services for taking care of pets.
About the Company
Starlineps Enterprises Limited is an India-based company,engaged in the trading of precious metals, stones, and jewelry. It offers studded, gold, and silver jewelry, along with a range of precious stone varieties to its clients, retailers, and wholesalers.
Financials and Ratios
Its revenue from operations grew by 169 percent from Rs. 9.07 Crores in Q2FY24 to Rs. 24.43 Crores in Q1FY25, accompanied by profits of Rs. 1.22 Crores to Rs. 3.25 Crores.
In terms of return ratios, it has reported a return on equity (ROE) of 7.05 percent and a return on capital employed (ROCE) of 9.77 percent. In terms of liquidity, it has reported a debt-to-equity ratio of 0.
Written by: Bharath K.S
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