The company that manufactures heat-treated high-tensile steel,its shares rose around 7% to ₹238 per share after the company commissioned a new facility.
On Wednesday, Krishca Strapping Solution shares closed at ₹244.70 apiece, up 3.25% from the previous close price on the national stock exchange. The company has a market capitalization of ₹295 crore.
As per the company’s filing,Krishca Strapping Solutions Limited recently took significant strides to enhance operational efficiency and expand its production capacity. The company commissioned operations at a new strapping line facility, marking a pivotal moment in its growth trajectory. This facility commenced commercial operations on May 14th, 2024,
Krishca Strapping Solutions specializes in producing high-tensile steel straps utilized in packaging, offering comprehensive packaging solutions to its clientele. Their diverse product portfolio includes strapping tools, steel strapping, strapping seals, packing materials, combination tools, pneumatic tensioners, strapping cutters, among other offerings.
In terms of market performance, Krishca Strapping Solutions shares have demonstrated robust growth, with an 8.5% increase over the past month and a remarkable 12% rise year-to-date.
Financially, the company has showcased remarkable progress. In the fiscal year 2022-23, Krishca Strapping Solutions reported a substantial surge in net profit, soaring by 518% to ₹9.34 crore compared to ₹1.51 crores in FY21-22. Similarly, the company’s revenue witnessed an impressive growth of 288%, escalating from ₹18.61 crores to ₹72.3 crores during the same period.
Moreover, Krishca Strapping Solutions’ financial metrics underscore its operational efficiency and profitability. In FY23, the company achieved a Return on Assets (ROA) of 26.79%, Return on Capital Employed (ROCE) of 67.54%, and Return on Equity (ROE) of 117%.
Examining the recent shareholding pattern, it’s notable that the company’s promoters retain a significant stake of 62.59%, while retail investors hold 37.41% of the shares. This distribution reflects confidence from both institutional and individual investors in Krishca Strapping Solutions’ growth prospects and operational capabilities.
Written by Omkar Chitnis
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