The shares of the Transformers manufacturing company hit a 2 percent upper circuit after receiving a Letter of Award (LoA) for a supply of transformers worth Rs. 62.70 crores.
With a market capitalization of Rs. 546.93 crores, the shares of Indo Tech Transformers Ltd started today’s trading session on a positive note. Within a few minutes of the opening bell, the share hit a 2 percent upper circuit.
Such a positive movement was observed after the company in an exchange filing mentioned that they had received a LoA from a domestic entity for the supply of transformers worth 62.70 crores. The order will be executed by October 2024.
Digging into the Financials statements, the revenue declined by 35 percent from Rs. 144.67 crores during Q4 FY23 to Rs. 93.22 crores in Q1 FY24. In addition to this, the net profit decreased by 81 percent from Rs. 19.3 crores to Rs. 3.54 crores during the same period.
Coming onto the important ratios, return on equity increased from 8.76 percent during FY 21-22 to 16.27 percent in FY 22-23. Furthermore, the return on capital employed increased from 13.82 percent to 20.84 percent during the same timeframe.
According to the latest shareholding pattern, Promoters have a 75 percent stake in the company and the remaining 25 percent is with the Public or Retail Investors.
Indo Tech Transformers Ltd, established in the year 1976 is one of the leading transformer manufacturing Companies situated in Southern India having manufacturing facilities at Kancheepuram in Tamil Nadu. Over 56000 Transformers of different ratings up to 245 KV are in service in various Substations and Industries across India and around the world.
Written By Vaibhav Patil
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