The shares of a leading auto ancillary company rose by 10.7 percent reaching a 52-week high price of Rs457 as on May 2024, after the company reported a rise in its net profit by 9.8% YoY for the period ended 31st March 2024.
The shares of Suprajit Engineering LTD closed at Rs 439.45 a piece, up by 6.78 percent on the Bombay Stock Exchange. The company has a market capitalization of Rs 5,698.36 crores.
The fluctuations in the share prices were observed after the company announced their financial results for the period Q4 FY23-24 and FY24, through their recent filings with the stock exchanges.
Looking into the company’s financial performance, Suprajit Engineering’s net profits have increased by 43.9 percent from Rs 41 crore in Q4FY23 to Rs 59 crore in Q4FY24. Additionally, its revenues also increased by 12 percent from Rs. 699 crore in Q4FY23 to Rs. 783 crore in Q4FY24.
On a full-year basis, the company’s net profits have increased by 9.86 percent from Rs 152.1 crore in FY2022-23 to Rs 167.1 crore in FY23-24. Additionally, its revenues also increased by 5.19 percent from Rs 2,752 crore to Rs. 2,895 crore for the same time frame.
The shares of this company delivered a return of 16.42 percent over the past year and 16.07 percent over the past 6 months.
The board recommended a Final Dividend of Rs 1.40 per equity share of Rs 1 each for the Financial Year 2023-24. It has a dividend yield of 0.56%.
Recent shareholding pattern as of March 2024 shows that promoters held 44.61 percent of the shares, with the public owning 33.08 percent, foreign institutional investors holding 4.79 percent and domestic institutional investors holding 17.51 percent.
Incorporated in 2015, Suprajit Engineering LTD is a leading supplier in of mechanical cables to the domestic 2W and passenger vehicles. The company is engaged in the business of manufacturing of auto components consisting mainly of control cables, speedo cables, auto lamps, and other components for automobiles.
Written by Zahal
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