Shares of this micro-cap company transitioning from NBFC business to the food and beverage industry in 2018 hit a 5 percent upper circuit on Friday after the company reported an exceptional 1,456 percent YoY increase in net profit and strong revenue growth in its latest quarterly results.
Price Movement
During Friday’s trading session, Thirdwave Financial Intermediaries Ltd‘s share price reached a high of Rs.156.30 per share, hitting the 5 percent upper price band from its prior close of Rs.148.90 apiece. Year-to-date, the stock has delivered impressive returns of more than 300 percent.
Financial Performance
The uptrend in the stock price was driven by robust financial results, with increases in net profits and revenue from operations.
With a market capitalization of Rs.560 crores, Thirdwave Financial Intermediaries Ltd reported consolidated revenue of Rs.28.71 crores for the quarter ending September 2024. This marks a 15,010 percent increase from Rs.0.19 crores in Q2 FY24 and a 126 percent rise from Rs.12.7 crores in Q1 FY25.
The company saw a remarkable 1,456 percent increase in net profit to Rs.6.38 crores in Q2 FY25, up from Rs.0.41 crores in Q2 FY24. On a quarter-on-quarter basis, PAT increased by 900 percent from Rs.0.64 crores in Q1 FY25.
Products and Services Offered
Thirdwave Financial Intermediaries Ltd primarily focuses on the food and beverage processing industry, offering products such as grains and pulses, and plans to establish food kiosks.
The company is also exploring franchising opportunities to expand its market presence. Previously, it operated as a non-banking financial company (NBFC) but exited that sector in 2018 due to regulatory challenges. This strategic shift allows Thirdwave to capitalize on growth opportunities in the food market.
Shareholding Pattern
As per the September 2024 shareholding pattern, retail investors hold the majority stake in Thirdwave Financial Intermediaries, with 57.10 percent, while promoters own 42.51 percent of the company’s shares. Domestic Institutional Investors hold a 0.38 percent stake in the company.
Company Profile
Founded in 1989, Thirdwave Financial Intermediaries Ltd. has shifted its focus from being a non-banking financial company (NBFC) to concentrating mainly on the food and beverage processing sector and related services.
Written by – Siddesh S Raskar
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