With a market value of Rs 1,128 crores, the shares of Stainless Steel Wire Rod Manufacture surged 12.7% on Friday and hit a 52-week high price of Rs 101.50 a share.
SAT Industries Ltd shares were trading at Rs 99.50 on the NSE at 1:28 p.m., up 10.68 percent, after Societe General bought a 1.42% stake in the company.
As per reports, The Europe-based financial services firm Societe General purchased a 1.42% stake in SAT Industries Ltd in a bulk deal for 16 lakh shares for around Rs 24 crore. The deal was concluded at a weighted average price of Rs 85.05 per share.
SAT Industries is engaged in the business of global outsourcing of products and services, manufacturing, of stainless steel rods, real estate, mining, and marketing activities.
Ace Ashish Kacholia acquired a stake in Aeroflex Industries, a subsidiary of the SAT business, in May 2023. SAT Industries sold a 4.05 percent share in Aeroflex Industries to Kacholia and Bengal Finance & Investments for Rs 40.56 crore.
The stock gained 49.48 percent in the last six months from Rs 66.90 to current levels, and last year stock gained 67.64 percent from Rs 59.65 to current levels.
According to the company’s financials. Revenues increased marginally by 35% year on year, from Rs 346 crore in FY 21-22 to Rs 466 crore in FY 22-23, Net profit climbed by 13% within the same period, from Rs 38 crore to Rs 43 crore.
Profitability ratios for FY 22-23 are as follows: ROE is 16.37 percent, ROCE is 18.63 percent, and margins are in acceptable condition with a net profit margin of 9.23 percent, an operating margin of 13.55 percent, and a debt-to-equity ratio of 0.40.
Written By Omkar Chitnis
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