Shares of IFB Industries Ltd gained 5.5 % on Wednesday’s trading session from the previous close price of Rs 801. The stock jumped a day after financial services group Societe Generale bought 3 lakh shares or a 0.74 percent stake in the company.
At 1:30 pm, the shares of the company were trading at Rs 821.55 on the NSE, up 2.15 percent from its previous close and the stock hit an intraday high of Rs 847.30 in the early trade.
As per the exchange filing. On June 6, French-based investment company Societe General bought a 0.74% stake in IFB Industries for about Rs 24 crore in a bulk deal for 3 lakh shares. The transaction was completed at a weighted average price of Rs 800.
IFB Industries is engaged in the manufacturing of household appliances and automobile accessories. That includes fine-blanked components and microwave ovens & automatic washing machines.
In accordance with the company’s financials, operational revenue increased from Rs 900 crores in Q4FY22 to Rs 1,010 crores in Q4FY23. During the same time period, the company’s net losses improved from a loss of Rs 28 crores to a loss of Rs 7 crores.
Financial comparisons show that revenues marginally increased year over year from Rs 3,415 crores in FY 21–22 to Rs 4,194 crores in FY 22–23. Within the timeframe specified, the net profit climbed by 135 percent from a loss of Rs 48 crores to a profit of Rs 17 crores.
Profitability ratios have shifted significantly upwards.ROE has climbed from -7.42% in FY 21-22 to 2.3% percent in FY 22-23, similarly, ROCE has increased from -4.40% to 6.61% and the debt-to-equity ratio is 0.31.
According to the latest data pertaining to the shareholding pattern, promoters of the company hold a 74.96 percent stake, and Domestic Institutional Investors (DIIs) hold a 4.18 percent stake in the company for FY 22-23.
Written by Omkar C
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