The stock price of a microcap company plunged by 11 percent after the promoter sold a 3.3 percent stake. However, the stock has delivered a 60 percent return in one year.
With a market capitalization of Rs 550.59 crore, the stock price of BGR Energy Systems Ltd. started its trading session on a flat note at Rs 85.11 per share. The share experienced an 11 percent dip from its previous close of Rs 85.50 per share to an intraday low of Rs 75.70 per share.
BGR Energy Systems Ltd. shares dropped to approximately 11 percent after the promoter of the company, Sasikala Raghupathy, sold 24,16,344 equity shares, which is equivalent to 3.3 percent of paid up capital. Furthermore, in the current year, the promoter has also sold 31,70,882 equity shares.
On a yearly basis, revenue from operations increased by 88 percent from Rs 246 crore in Q3 FY23 to Rs 462 crore in Q3 FY24, and in the same period, the company incurred a net loss of Rs 59 crore in Q3 FY23 and Rs 691 crore in Q3 FY24.
Sequentially, on a quarterly basis, the revenue from operations increased by 97 percent from Rs 235 crore in Q2 FY24 to Rs 462 crore in Q3 FY24, and in the same period, it incurred a net loss of Rs 107 crore in Q2 FY24 and Rs 691 crore in Q3 FY24.
The company primarily operates in these segments, capital goods, construction, and engineering procurement construction.
It has delivered a return on equity of 444 percent and a return on capital employed of 11 percent in the trailing twelve months (TTM).
The promoter of the company holds 75 percent of the shares, followed by 24.72 percent by the public, 0.26 percent by domestic institutional investors, and 0.02 percent by foreign institutional investors.
BGR Energy Systems Ltd. is an indian based company established in 1985 and headquartered in Chennai, Tamil Nadu. It operates through five divisions, including power projects, electrical projects, oil and gas equipment, environment engineering, and air fin coolers.
Written By Praveen R
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