The shares of the largest tyre valve manufacturer hit 5 percent upper circuit to Rs 2,900 per share after the company received a patent for their invention in Abnormalities in Tyre Assembly and Tyre Pressure Regulating System.
On Tuesday’s early trade, shares of Triton Valves Ltd hit a 5 percent circuit on the Bombay Stock Exchange. The company’s market capitalization stands at Rs 302 crores.
The company has recently been granted three patents as per their exchange filing. The first patent, titled “Rubber Gum Compound Composition,” has been granted under Patent Number 533465. It is valid for 20 years from November 30, 2018, in line with the Patents Act of 1970 and was issued by The Patent Office, Government of India, with a certificate dated April 17, 2024.
The second patent, titled “Methods And Systems For Managing Abnormalities In A Wheel/Tyre Assembly Of A Vehicle,” has been granted under Patent Number 525438. This patent is valid for 20 years from January 13, 2017, as per the Patents Act of 1970 and was issued by The Patent Office, Government of India, with a certificate dated March 14, 2024.
Lastly, the third patent, titled “A Tyre Pressure Regulating System For A Tyre Of A Vehicle,” has been granted under Patent Number 525039. This patent is valid for 20 years from December 29, 2017, according to the provisions of the Patents Act of 1970. It was issued by The Patent Office, Government of India, with a certificate dated March 14, 2024.
The company’s revenue grew by 28% year-on-year, rising from Rs 89.36 crore in Q3FY23 to Rs 114.78 crore in Q3FY24. Moreover, it shifted from a loss of Rs 4.75 crore to a profit of Rs 0.69 crore during this period.
Triton Valves specializes in manufacturing valves for the tyre and inner tube industry. Initially a Tier 2 supplier, it has transitioned to become a Tier 1 supplier to the automobile industry.
Over time, Triton has transformed into a precision manufacturer and essential supplier of valves and components across various sectors, including air conditioning, hydraulics, aerospace, mining, defense, and industrial HVAC & R.
Triton Valves offers a wide range of products, such as tyre valves, tubeless tyre valves, TPMS (Tyre Pressure Monitoring Systems) valves, flash busters, pressure relief valves, air conditioner valves for both industrial and home use, CTIS (Central Tire Inflation System) components and valves, valve cores, accessories, service products, auto-air conditioning valves, and other related components.
In FY23, 94% of the company’s revenue came from product sales, 1% from services, and 5% from other operating income, as per the Revenue Breakup.
Geographically, the company generates 3% of its revenue from exports and 97% from domestic sales. It exports its products to regions like North America, Latin America, Africa, Asia Pacific, and the Far East.
The company’s invention titled “Methods and Systems for Relieving Pressure in a Battery Pack Assembly” was granted a patent under Patent Number 437917 on July 8th, 2023.
Furthermore, the company received a patent grant for “A Molding Apparatus And A Method Thereof” from the Indian Patent Office with the patent number 455837 on September 29th, 2023.
The company’s shares have surged by 97% over the past 12 months and by 85% in the last six months.
Written by Omkar Chitnis
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