In Wednesday’s trading session, the share price of a company producing a wide range of castings hit 5% upper circuit on BSE at Rs. 425.9, after the company secured a significant order worth Rs. 80 crore from different customers.
With a market capitalisation of Rs. 305.82 crore, the shares of Kalyani Cast-Tech Limited opened at Rs. 408, compared to its previous closing price of Rs. 405.65.
According to the recent regulatory filings with the BSE, Kalyani Cast Tech received several orders from different customers having a substantial aggregate value of Rs. 80 crore, each with unique specifications and delivery deadlines.
The order received by the company is for the special containers for domestic logistics providers, with all of the orders scheduled to be completed on or before October 31, 2024.
The order worth Rs. 80 crore will contribute to the company’s revenue along with strengthening its position in the market and supporting future growth and expansion opportunities.
In terms of financials, the company reported a growth in revenue from operations by 49.3 percent YoY from Rs. 63.3 crore in FY22-23 to Rs. 94.5 crore in FY23-24, and the after-tax profit increased by 19.2 percent from Rs. 8.05 crore to Rs. 9.6 crore, during the same period.
The standalone return on equity (ROE) stood at 19.06 percent in FY23-24, down from 56.44 percent in FY22-23, and a decline in the Return on Capital Employed (ROCE) from 67.48 percent in FY22-23 to 26.42 percent in FY23-24.
As per the latest shareholding pattern, the Promoters hold a 69.84 percent stake in the company, FIIs hold a 0.38 percent stake, while Retail Investors and DIIs hold a 29.68 percent and 0.11 percent stake in Kalyani Cast-Tech, respectively.
The stock has delivered nearly 53.6 percent of positive returns in the last one year, but around 15.4 percent of negative returns year-to-date.
Kalyani Cast Tech Limited is engaged in the business of manufacturing a wide product range of castings, including finished components and various types of cargo containers and other special containers including dwarf containers, cuboid containers, special containers for parcel cargo, and containers for two & three wheelers.
The company operates a manufacturing facility for steel, SG iron, and cast iron components.
Written by Shivani Singh
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.
