The shares of the largest Cable channel exporter gained up to 4 percent on BSE after the company came into a Joint Venture agreement with M/s.Kostad Steuerungsbau GmbH to make DC Fast charging stations for electrical Cars.
With a market capitalization of Rs 678.15 crore, the shares of Salzer Electronics Ltd were trading at Rs 405.55 per share in Bse, decreasing around 0.48 percent as compared to the previous closing price of Rs 408.45 apiece.
According to the company filing, Salzer Kostad EV Chargers Pvt Ltd a wholly owned subsidiary of Salzer Electronics Ltd came into a Joint Venture agreement with M/s.Kostad Steuerungsbau GmbH to make DC Fast charging stations for electrical Cars, Trucks and buses, and components and systems.
Furthermore, under this JV Agreement, the business has subscribed 2,90,000 equity shares of Rs.10/- each on December 28, 2023, for consideration of Rs.29 lakh in JV business, increasing Salzer Electronics Limited’s ownership percentage in JV Company to 60 percent.
Looking into the company’s financial, Salzer Electronics Ltd’s revenue increased by 11 percent from Rs 244.96 Crore in Q2FY23 to 273.68 Crore in Q2FY24. During the same period, net profits increased by 5 percent from Rs 8.95 crore to Rs 9.38 crore.
The company has a presence in Industrial switchgear, Wires and cables, and Energy management business. Salzer Electronics is the largest manufacturer of Cam Operated Rotary Switches and the Market leader with a 25 percent share
Ace investor Dolly Khanna holds 1,74,500 shares, i.e. equivalent to 1.00 percent of the company as of the December quarter of 2023.
The firm has six production sites in Tamil Nadu and around 15 products that cater to the Industrial / Building Electrical / Automobile verticals. Through more than 350 distributors, Salzer Electronics Ltd has access to L&T’s local network.
Salzer Electronics Limited provides Total and Customized Electrical Solutions in switchgear, Wires and cables, and Energy Management. It also manufactures CAM Operated Rotary switches and Wire Ducts in India.
Written by:- Abhishek Singh.
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
