On Monday’s early trade, shares of this micro-cap company touched a 5 percent upper circuit to a 52-week high price of Rs 99.14 per share after the company signed an MoU with a subsidiary of Philips Corporation to establish a Joint venture firm.
Jaykay Enterprises Ltd is a micro-cap stock, with a market capitalization of Rs 579 core. The company shares have gained 21 percent in a month.
On December 9, 2023, Jaykay Enterprises signed a Memorandum of Understanding (MoU) with Philips Machine Tools India Private Limited, a subsidiary of Philips Corporation involved in the business of Advanced manufacturing technology products and services. According to the exchange filing.
MoU inked to expand each firm business in India and overseas, by setting up a joint venture LLP. The Joint Venture aims at the following:
● To participate in the supply & installation of manufacturing systems & accessories in India & global locations as parties may decide.
● To explore possibilities of setting up a manufacturing facility for supply into Philips Corporation Machine tools supply chain of machines systems & accessories.
● To explore possibilities of setting up an Industry 4.0 Consulting & manufacturing system.
The company’s revenue has declined by 39 percent yearly, from Rs 13.37 crore in Q2FY23 to Rs 8.14 crore in Q2FY24. In the same timeframe, Net profit has significantly increased by 450 percent from Rs 0.57 crore to Rs 3.24 crore.
Jaykay Enterprises shares have gained 128 percent in the last six months, which shows that a shareholder investment of Rs 1 lakh in the company would be worth Rs 2.28 lakhs in the last six months.
To expand business in the field of designing development, manufacturing, and testing of advanced composite engineering products, the company has acquired a 76.41 percent equity stake in Allen Reinforces Plastics Private Ltd through its wholly owned subsidiary i.e. JK Defence & Aerospace Limited.
Jaykay Enterprises Ltd is engaged in the business of manufacturing nylon and acrylic fibers, and the Company has diversified its business by Supplying 3D printing
machines and accessories, a 3D printing service bureau, and DfAM besides Machining and manufacturing Defence and Allied products.
Written by Omkar Chitnis
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