The shares of the electrical switch manufacturer gained up to 7 percent after the company announced that they are building a fully integrated smart meter manufacturing facility in Coimbatore.
With a market capitalization of Rs 1,060.26 crore. The shares of Salzer Electronics Ltd closed at Rs 609.95 per share, increased around 6.26 percent as compared to the previous closing of Rs 574.00 apiece.
According to the company filing, Salzer Electronics Ltd has announced that they are building a one-of-its-kind fully integrated smart meter manufacturing facility in Coimbatore. This innovative smart meter facility integrates with Salzer’s existing Coimbatore operations, which produce essential electrical components for smart meters.
Furthermore, This New smart meter manufacturing plant will have an annual production capacity of 4 million smart energy meters, which will be increased to 10 million smart energy meters in Phase Two. This facility will employ approximately 1000 people at its full capacity.
Looking into the company’s financial, Salzer Electronics Ltd’s revenue increased by 9 percent from Rs 240 Crore in Q3FY23 to 262 Crore in Q3FY24. During the same period, net profits increased by 20 percent from Rs 10 crore to Rs 12 crore.
Dolly Khanna, a prominent investor, owns 1,74,500 shares, accounting for 1.00 percent of the corporation as of the December quarter of 2023.
The stock gave a 52.50 percent return in six months and a 131.08 percent return in a year. If an investor invests Rs 1 lakh in the company, it would be worth Rs 2.31 Lakh in a year.
The company has a presence in Industrial switchgear, Wires & Cables, and Energy management business as well as the largest manufacturer of Cam Operated Rotary Switches the Market leader with a 25 percent share.
Salzer Electronics owns a distribution network of local and global exports to 50 countries and has access to L&T’s local network through more than 350 distributors.
Salzer Electronics Limited provides Total and Customized Electrical Solutions in the switchgear, Wires & Cables, and Energy Management industry. It also manufactures CAM-operated rotary switches and wire ducts in India.
Written by:- Abhishek Singh
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