The share price of this micro-cap firm engaged in the phone retail business saw its shares surge around 6 percent to an intraday high of Rs 202.95 per share on Friday after the company plans to foray into Maharashtra by launching 25 stores.
Share price movement:
With a market capitalization of Rs 201.10 crores, the shares of Fonebox Retail Limited surged around 3 percent at 12:00 pm trading at Rs 197.10 apiece on Friday’s afternoon session. The shares of this recently listed firm generated a return of 26 percent over the past month. The company was listed on 2nd feb 2024 with a listing price of Rs 70 per share on NSE SME.
What happened:
According to Fonebox Retail Limited stock exchange filings, the company announced that they have plans to foray into the state of Maharashtra by planning to launch 25 stores in FY25. The Maharashtra foray will be a part of Fonebox’s national strategy.
Fonebox Limited was recently listed on NSE and raised Rs 20.37 crores from the IPO out of which the firm intends to spend Rs 13.50 crores towards the expansion of its retail network.
Financials:
Reviewing the financials of Fonebox Retail Limited on a year-on-year basis, the revenues rose by 52 percent from Rs 196 crores in FY23 to Rs 298 crores in FY24. In the same time frame, the net profits increased from Rs 2 crores to Rs 3 crores, demonstrating a 50 percent increase.
Ratios:
In terms of return ratios for the year 2024, it has reported a return on equity (ROE) of 11.45 percent and a return on capital employed (ROCE) of 11.18 percent. It has also reported a debt-to-equity ratio of 0.01 times for the same year.
Number of stores:
Under the brand names – “Fonebox”, “Fonebook” and “My mobile”, Fonebox limited currently has 181 stores in Gujrat.
Commenting on the initiative, Mr. Manishbhai G. Patel, Promoter & Director, Fonebox Retail Limited, said, “We have charted our ambition to become a pan-India player in the coming years and Maharashtra is the next destination for our company. Given our multi-brand business model and exhaustive distribution capability, we are poised to expand our presence in western India and therefore lay a robust foundation for future growth.
Shareholding Pattern:
As of March 2024, Fonebox Retail Limited’s shareholding pattern stood at 71.64 percent for promoters, 19.49 percent for the public, 8.79 percent for foreign institutional investors, and 0.08 percent for domestic institutional investors.
About the Company:
Incorporated in the year 2021, Fonebox Retail Limited is a multi-brand retailer of smartphones and accessories from brands like Vivo, Apple, Samsung, Oppo, Realme, Nokia, Narzo, Redmi, Motorola, LG, and Micromax.
Written By Zahal
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