Shares of trading and distribution of electronic components company jumped around 1 percent in Monday’s trading session after securing a dealership from Polycab Cable.
With a market capitalisation of Rs. 113 crores, the shares of Sunrise Efficient Marketing Ltd started Monday’s trading session on a flatter note at Rs. 112.75 compared to its previous close of Rs. 112.15. During the trading session, the shares hit a high of Rs. 115, gaining around 1 percent and are currently trading at Rs. 113 apiece.
Such a positive movement in the share price was observed after the company in an exchange filing announced that they had secured a dealership of Polycab Cable, for the burgeoning market of South Gujarat, with a specific focus on Surat and its neighbouring areas.
This strategic collaboration designates the company as the exclusive distributor for Polycab products, empowering it to meet the growing demand for high-quality cables and wires in the region.
This dealership encompasses South Gujarat, a region that includes the vibrant city of Surat and its surroundings. This market is poised for significant growth, driven by diverse industries, ongoing infrastructure projects, and an increasing demand for top-notch electrical products.
Furthermore, in anticipation of this partnership, the company projects that it will successfully capture a a substantial portion of the market, aiming to cater to a market worth 500 million.
Coming onto the company’s financial statement, the revenue zoomed by 52 percenet from Rs. 65 crores during FY21-22 to Rs. 99 crores in FY22-23. In addition, the net profits magnified by 60 percent from Rs. 5 crores to Rs. 8 crores during the same timeframe.
Looking at the important financial ratios, the return on equity during FY22-23 stood at 39.35 percent and the return on capital employed was recorded at 37.91 in FY22-23. Moreover, the net profit margin was at 8.18 percent during the same period.
According to the latest shareholding pattern, the Promoters have a 72.40 percent stake and the remaining 27.60 percent is with the Retail Investors.
Headquartered in Surat, Sunrise Efficient Marketing Ltd was incorporated in 2020. The company is engaged in the business as traders, distributors, super stockiest, retailers, wholesalers, importers, and repairers of all types of industries like electronic items, mechanical and engineering items. The company is also a distributor for FMCG companies.
Written By Vaibhav Patil
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