This small cap stock owned by ace investor Ashish Kacholia zoomed 15% after the company acquired 26% in a SPV with Tata Power Renewable Energy Limited. 

Share price of XPRO opened at Rs. 950 levels and gained 15% to reach its 52- week high of Rs. 1080 levels. The stock returned 47.13% in the last six months. In the last three years, the stock grew by 6224.27%

On 14 Sep 2023, XPRO India acquired an equity stake of 26%, 13.5 lakh equity shares of TP Mercury Limited, a fully owned subsidiary of Tata Power Renewable Energy Limited, for the sourcing of solar power of 3.125 MW through Open Access for the Company’s Ranjangaon Unit under the Group Captive Scheme.

The company has entered into a share purchase agreement with both Tata Power Renewable Energy Limited and TP Mercury Limited. The acquisition is expected to be completed within 365 days from the Execution of the Share Purchase Agreement.

Comparing its financials on a QoQ basis, the company earned a revenue of Rs. 130.89 crore in Q1FY24 which is an increase of 5.3% from Rs. 124.27 crore in Q4FY23. Its net profit which was Rs. 4.27 crore in Q4FY23 increased 164.4% to Rs. 11.29 crore in Q1FY24. It has a debt to equity ratio of 0.18. The company has maintained a good average ROE for the last three years of 25.57

XPRO India is a manufacturer company of semi- finished plastic products. The company focuses on polymers and has a global presence through its multi-national activities. Started in 1988 under the Birla Group conglomerate, the company has well trained and managed facilities. 

Written by Bhumika Khandelwal


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