The shares of one of the leading automotive systems and components manufacturers jumped 3 percent in the day’s trade upon announcing an interim dividend and Q3FY24 results with a jump in net profits by 24 percent.
At 1:40 p.m the shares of Sona Blw Precision Forgings Limited were trading at Rs. 592, up 2.08 percent from its previous day’s close price of Rs. 579.95 and its market capitalization is Rs. 34,726 Crores.
Its revenue from operations grew by 15.75 percent YoY from Rs. 675.26 Crores in Q3FY23 to Rs. 781.79 Crores in Q3FY24 and it declined 0.72 percent QoQ from Rs. 787.46 Crores in Q2FY24 to Rs. 781.79 Crores in Q3FY24.
Its Net Profit grew by 24.64 percent YoY from Rs.10.71 Crores in Q3FY23 to Rs. 13.35 Crores in Q3FY24 and it grew 7.66 percent QoQ from Rs. 12.4 Crores in Q2FY24 to Rs. 13.35 Crores in Q3FY24.
In addition to this, it has declared an interim dividend of Rs. 1.53 per equity share of the Company having a face value of Rs. 10 each and has a fixed February 5, 2024, as the record date to determine the eligible shareholders of the company to receive the dividend.
Sona Blw Precision Forgings Limited is engaged in the business of designing, manufacturing, and supplying engineered automotive systems and components such as differential assemblies, gears, conventional and micro-hybrid motors, and many more.
It has reported a return on equity (ROE) of 18.3 percent and a return on capital employed (ROCE) of 22 percent, it is making good returns on equity and capital employed.
According to the latest shareholding data available for the quarter ended December 2023, the company’s Promoters hold 29.71 percent stake, the Foreign Institutional Investors (FII) hold 32.88 percent and the Domestic Institutional Investors hold 27.90 percent.
Written by: Bharath K.S
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