Share price of this micro-cap stock hit a 2.6 percent upper circuit at Rs. 705 on BSE in the morning trading session of Tuesday after the company announced receiving export orders from a Singapore company worth Rs. 7.03 Cr.
With a market capitalisation of Rs. 716.3 crores, the share price of Meson Valves India Limited opened at Rs. 685 on Monday, compared to its previous closing price of Rs. 687.15.
The company has delivered multibagger returns of about 246.5 percent of in the last one year and nearly 165.2 percent in the last six months. So far in 2024, it has given positive returns of around 20.4 percent.
According to recent regulatory filings with the BSE, Meson Valves India Limited has received two export orders from KW Engineering Solutions Pvt. Ltd., for an aggregate amount of nearly Rs. 7.03 crores exclusive of all taxes.
K&W Engineering Solutions is a Singapore-based company that specialises in Mechanical, Electrical, Plumbing and Structural Engineering designs and specifications for commercial and industrial applications.
The export orders received by the company are for the supply of different models of Bufferfly and Ball Valves, and the order has to be delivered within the period of 16 weeks.
Meson’s experience in niche high-end technology products like remotely operated Triple offset butterfly valves in Non-ferrous materials made the company secure this export order.
In terms of financials, the company’s revenue from operations grew by nearly 160 percent YoY from Rs. 14.1 crore in FY21-22 to Rs. 36.65 crore in FY22-23, accompanied by an increase in the net profit of 112.2 percent YoY, from Rs. 2.13 crore in FY21-22 to Rs. 4.52 crore in FY22-23.
As of September 2023, FIIs hold 1.9 percent of the shares, whereas DIIs hold 2.48 percent of the shares in the company, aggregating to 4.38 percent of the institutional holdings.
Meson Valves India Limited is engaged in the designing, manufacturing and supply of various types of valves in Ferrous and Non-Ferrous materials.
Written by Shivani Singh
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