The shares of the wire manufacturing company jumped 6 percent after receiving an order worth 47.78 crores from Sterling and Wilson Private Limited.
With a market capitalization of Rs. 187 crores, the shares of Ultracab India Ltd started Wednesday’s trading session on a higher note at Rs. 19.28 compared to its previous close at Rs. 19.01. The share hit a high at Rs. 20.35 making a gain of 6 percent and currently trading at 20 apiece.
Such a bullish movement was observed after the company in an exchange filing mentioned that the company had received an order from Sterling and Wilson Private Limited to supply LT AB cable worth 47.78 crores. The supply of these cables will be completed on or before March 2025.
Looking at the financial statements of the company, the revenue increased by 19 percent from Rs. 26.22 crores during the June quarter to Rs. 31.23 crore in the September quarter. In addition, the net profit zoomed by 49 percent from Rs. 1.03 crores to Rs. 1.53 crores during the same timeframe.
Coming onto the important financial ratios, the return on equity (RoE) increased from 12.77 during FY21-22 percent to 20.01 percent in FY22-23, and the return on capital employed improved from 12.8 percent to 17.6 percent during the same period.
According to the latest shareholding pattern, the Promoters have a 59.69 percent stake and the remaining 40.31 percent shares are with the Retail Investors.
Headquartered in Gujarat, Ultracab India Ltd was incorporated in 2007. The company manufacturer and exporter of electric wires and cables in India and has expertise in Instrumentation Cables, Elevator Cables, High-Temperature Automotive Cables, and UL Approved Cables.
Written By Vaibhav Patil
