During Monday’s trading session, the shares of a company engaged in manufacturing PVC insulated wires and cables slumped nearly 2.3 percent to Rs. 383 on NSE.
With a market capitalisation of Rs. 872.7 crores, at 10:19 p.m., the shares of V-Marc India Limited were trading in the red at Rs. 383, down by 2.3 percent, as against its previous closing price of Rs. 392.
Shareholding Pattern:
According to the September 2024 shareholding pattern, the Promoters hold a 69.52 percent stake in the company. Foreign Institutional Investors (FIIs) own 0.21 percent, while Retail Investors hold a 30.27 percent stake in V-Marc India.
In the month of September, Ashish Kacholia, a reputed investor, purchased 4.97 lakh equity shares (equivalent to a 2.03 percent stake) in the company on August 17, 2024. The total value of this allotment amounts to nearly Rs. 14.24 crores. The allotment is categorised as Non-QIB (Qualified Institutional Buyer).
Ashish Kacholia’s investment in V-Marc India Limited enhances the company’s financial resources and boosts investor confidence. His involvement may also provide valuable expertise and increase the company’s market visibility.
Along with the prominent investor’s acquisition, non-QIB investments include 16,35,000 shares worth Rs. 46.83 crore. These investments are expected to strengthen VMARC India’s market position and facilitate its strategic objectives.
Previous News:
On 14th June, V-Marc India secured a Purchase Order cum Contract Agreement worth Rs 9.96 Crores from Punjab State Power Corporation Ltd (PSPCL) for the supply of Three Core HT XLPE Screened Armoured Cable, sized 3Cx150 sq. mm.
On 21st June, the company received a Letter of Intent valued at Rs 13.72 crores from Purvanchal Vidyut Vitran Nigam Limited (PuVVNL) for the supply of cables.
On 5th August, V-Marc India signed an agreement to acquire 8,200 square meters of land near its existing project at Village Kaliar, Uttarakhand, for the purpose of future expansion and new projects under pipeline.
Financials:
The company experienced significant growth in its revenue from operations, showing a year-on-year rise of around 128.6 percent from Rs. 245 crores in FY23 to Rs. 560 crores in FY24.
Similarly, its net profit increased during the same period from Rs. 10 crores to Rs. 27 crores, indicating a rise of nearly 170 percent YoY.
V-Marc India Limited was listed on the NSE SME exchange in April 2021. It has used its IPO proceeds of Rs. 26.67 crores to fund its new manufacturing unit, which has a capacity of 11,520 km per annum.
About the company:
Incorporated in 2014, V-Marc India Limited is engaged in the business of manufacturing PVC insulated wires and cables.
The company manufactures various types of wires and cables in single & multi-core with copper or aluminium conductors and possesses properties of FR, HRFR, FRLS, HFFR etc.
V-Marc India procures Aluminum from majors like NALCO, and Hindalco along with various traders. Aluminum is the company’s primary raw material used in the manufacture of cables and conductors.
Written by Shivani Singh
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