Shares of this micro-cap stock associated with the ‘Cable’ industry hit its 5 percent upper circuit in Wednesday’s trading session after the company announced robust results for H2FY24, i.e., for the period ending March 2024. In the last five trading sessions, the company’s stock gained nearly 10 percent for its holders.
With a market capitalization of Rs 366.96 crores, the stocks of V-Marc India Limited started their trading session on Wednesday at Rs 161.05, hitting its 5 percent upper circuit compared to the previous close of Rs 153.40 apiece.
Such sharp movements in the company’s share price were observed today after the company, through a regulatory filing with the National Stock Exchange (NSE), announced the financial results for H2FY24, i.e., for the period ending March 2024.
On a half-yearly basis, the company’s prime business indicators, viz, its operating revenues as well as after-tax profits, reported a jump in numbers. The former rose from Rs 175 crores during H1FY24 to Rs 390 crores during H2FY24, and the latter, keeping the timeframe the same, shifted up from Rs 5.50 crores to Rs 21.35 crores.
Comparing H2FY23 v/s H2FY24, the metrics discussed above showed drastic positive movements with the operating revenue numbers increasing from Rs 133 crores to Rs 390 crores and the after-tax profits, keeping the timeframe the same, rising by a whopping 166 percent from Rs 8.05 crores to Rs 21.35 crores.
Historically, the company’s ratio analysis portrays its return ratios, viz, the return on equity (RoE) as well as the return on capital employed (RoCE), being reported at decent numbers during FY23 with the former reported at 13.10 percent and the latter at 23.42 percent.
Incorporated in 2014, V-Marc India Limited is a specialised instrumentation and control cable company offering a wide range of cable products to multiple industries. It manufactures and sells various cables & wires such as single & multistrand cables, CCTV cables, telephone switchboard cables, core flat cables, power cables, and many others.
Written by Amit Madnani
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