Shares of this microcap company surged around 10 percent in Thursday’s trading session after reporting an increase in net profit by 88 percent in FY24.
With a market capitalization of Rs. 895 crores, the shares of Vasa Denticity Ltd started Thursday’s trading session on higher note at Rs. 515 compared to its previous close of Rs. 509.65. During the trading session, the shares hit a high of Rs. 578.70 and closed the day at Rs. 555 apiece.
Such a positive movement in the share price was observed after the company announced half-year and financial year ended 31st March 2024 results. On a half-yearly basis, the revenue increased by 24 percent from Rs. 76.81 crores during H1FY24 to Rs. 95 crores in H2FY24. In addition, the net profits zoomed by 40 percent from Rs. 6.27 crores to Rs. 8.79 crores during the same timeframe.
Comparing the same metrics during the financial year, the revenue surged by 40 percent from Rs. 123 crores during FY22-23 to Rs. 171.88 crores during FY23-24. On the other hand, the net profits magnified by 88 percent from Rs. 8 crores to Rs. 15.07 crores during the same period.
During the fiscal year 2024, Vasa Denticity established additional warehouses in Mumbai, Nagpur, Kolkata, and Guwahati, thereby expanding its operational footprint. As of the conclusion of FY24, the company boasts a total of seven warehouses, strategically positioned to enhance its logistical capabilities and support its business operations.
In H1FY24, company served more than 2.02 lakh orders from over 147,000 customers on their website, mobile application from all 28 states and 6 Union Territories of India and has a 82 percent customer retention rate.
Moreover, the company has a portfolio of more than 30 owned brands, which are manufactured by third parties based on specifications from their research and development team.
As per the latest shareholding pattern, Ace Investor Mr Ashish Kacholia, entering the stock in September 2023, currently holds around 6.09 lakh equity shares equivalent to a 3.80 percent stake in this company. The current holding value of his investment amounts to Rs. 34 crores.
In terms of key financial metrics, the company reported a Return on Equity (RoE) of 70.50 percent and a return on capital employed (RoCE) of 75.99 percent for the period spanning FY22-23. Furthermore, the net profit margin was at 6.17 percent during FY22-23.
Headquartered in Delhi, Vasa Denticity Limited is a Dental Products E-Commerce company. It operates in the dental industry, offering a wide range of products through its online portal DentalKart.com and mobile application Dentalkart.
Written By Vaibhav Patil
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