The shares of a Small-cap company, specializing in the manufacturing and supply of enameled copper winding wires, jumped upto 17 percent following the approval of the project for recycling copper waste and scrap in Gujarat
Price action
With a market capitalization of Rs. 2,513.72 crores on Monday, the shares of Precision Wires India Limited jumped upto 17 percent making a High of Rs. 164.95 per share compared to its previous closing price of Rs. 140.70 per share.
What Happened
Precision Wires India Limited is engaged in the manufacturing and supply of enameled copper winding wires, has approved the project for recycling copper waste and scrap/refining copper at Zaroli, Gujarat with an estimated investment for the project is Rs. 188 Crores, excluding land.
The Board also approved securing a term loan and other banking arrangements for the project and the Regulatory approvals from the Gujarat Pollution Control Board have been obtained.
About the Company
Precision Wires India Limited is a leading manufacturer of copper wire and wire products. The company specializes in producing enameled, winding, and winding wires used in various applications, including electrical, electronics, and automotive industries. With a strong presence in both domestic and international markets. The company operates from its registered office in Mumbai and production facilities in Silvassa, India.
Key Insights
The company has a P/E ratio of 30.52, which is lower than the industry average of 44.86. Additionally, it maintains a low debt-to-equity ratio of 0.19, indicating strong financial stability of the company.
Financials
The company’s revenue rose by 22.05 percent from Rs. 804.83 crore to Rs. 982.27 crore in Q3FY24-25. Meanwhile, Net profit rose from Rs. 18.05 crore to Rs. 18.95 crore during the same period.
Written by Sridhar J
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