The shares of the engineering company moved 9 percent after the company received an order worth 1.58 crore from a trader of steel products.
With a market capitalization of Rs. 89.61 crores, the share of Sunita Tools Ltd started its Thursday trading session flat at Rs. 158. The share hit a high of Rs. 174 making a gain of around 9 percent and closed its trading day at Rs. 174.80 apiece. The stock is trading near 52 weeks high which was recorded at Rs. 175.
Such a bullish sentiment in the stock was observed after the company in an exchange filing announced that it had received an order worth Rs 1.58 crores from a trader of steel products.
The company has received the order to provide steel mould products. Furthermore, the company mentioned that the order is to be completed within 3 months.
Looking at the financials of the company, the revenue of the company increased by 58 percent from Rs. 8.73 crores during FY21-22 to Rs. 13.84 crores in FY22-23. In addition to this Profit After Tax (PAT) magnified by 317 percent from Rs. 81 lakhs to Rs 3.38 crores during the same timeframe.
Coming on to the important ratios, the return on capital employed was accelerated from 19.98 percent during FY 21-22 to 33.24 percent in FY22-23. Furthermore, the net profit margin improved from 9.27 percent to 24.39 percent keeping the timeframe same.The debt to equity was changed from -4.68 times to 5.24 times during the same above mentioned period.
According to the latest shareholding pattern, Promoters have 72.98 percent stake in the company and the remaining 27.08 percent is with the Retail Investors.
Headquartered in Thane, Sunita Tools ltd was established in the year 1988. The company manufacture Ground Plates, Mould Bases and Precision CNC Machining. The company’s products are a pre-requisite to the Manufacturing industries be it Automotive, Pharmaceutical, Electronics, Consumer Goods and most of the Manufacturing Sectors.
Written By Vaibhav Patil
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
