The share of the microcap textile company moved 6 percent on NSE after receiving the first largest overseas order for the supply of denim and other fabrics.
With a market capitalization of Rs. 150 crores, the shares of Swaraj Suiting Ltd started their Friday trading session on a higher note. The share opened higher at Rs. 105 compared to its previous close at Rs. 98 making a gain of around 6 percent. And currently trading at Rs. 104 apiece.
Such a bullish sentiment was observed after the company in an exchange filing mentioned that it had received the first largest overseas order for the supply of denim and other fabrics. The order amounts to USD 3,00,000 and this is the first success of the Company in this line.
In addition, the company also mentioned that it has appointed a dedicated sales team to complete this order by December 2023.
Looking at the financial statement of the company, the revenue increased by 70 percent from Rs. 128.33 crores during FY21-22 to Rs. 219.29 crores in FY22-23. Furthermore, the company increased its net profit by 21 percent from Rs. 4.57 crores to Rs. 5.54 crores during the same timeframe.
Coming on to important financial ratios, the return on equity was at 8.89 percent during FY21-22 and the return on capital employed was recorded at 10.41 percent during the same period.
Since January, the company’s stock has delivered multibagger returns of 276 percent to its stakeholders. For example, if someone had invested Rs. 1 lakh since the beginning of the year, then, the worth of those shares would be Rs. 3.76 lakhs now.
According to the latest shareholding pattern, the Promoter has a 68.91 percent stake in the company and the remaining 31.09 percent is with the Public or the Retail Investors.
Headqauretd in Bhilwara, Swaraj Suiting Ltd was established in the year 2003. The company is into manufacturing, trading, and dealing in textiles. The company can produce 125 Looms with an annual Production Capacity of approx. 22 million meters of cotton and can produce approx. 15 million meters of denim fabric per annum.
Written By Vaibhav Patil
