Micro-cap stock engaged in manufacturing a wide range of steel structures jumped 5 percent in the day’s trade after it released a robust monthly sales update with a jump of 60.89 percent.
At 1:18 p.m the shares of Mahamaya Steel Industries Limited were trading at Rs. 87.30, up 3.99 percent from its previous day’s close price of Rs. 83.95 and its market capitalization is Rs. 144 Crores
Mahamaya Steel Industries Limited has released its monthly business update where the December 2023 sales are 15124.220 MT which is a jump of 60.89 percent from November 2023 sales of 9399.950 MT. Altogether Sales (Units) of the Company for the quarter ended December 2023 is 36044.83 MT
The company’s revenue from operations grew 31.18 percent from Rs. 495.32 Crores in FY22 to Rs. 649.77 Crores in FY23, accompanied by increasing profits of Rs. 5.11 Crore to Rs. 5.61 Crore.
It has reported a return on equity (ROE) of 3.17 percent and a return on capital employed (ROCE) of 5.24 percent, it is not making good returns on its equity and capital employed.
Mahamaya Steel Industries Limited is engaged in manufacturing steel structures in the shape of Angles, Beams, Joist, Channels, Rounds, Flats, Railway sleepers, etc.
Written by: Bharath K.S
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