Shares of this microcap company jumped 8 percent in Wednesday’s trading session after securing an order from Bharat Electronics Limited. The shares have delivered more than 45 percent returns to its investors in three months.
With a market capitalisation of Rs. 812 crores, the shares of Vinyas Innovative Technologies Ltd started Wednesday’s trading session on a higher note at Rs. 649.95, gaining around 8 percent compared to its previous close of Rs. 598.95 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that it had received purchase orders worth Rs. 43.5 crores from Bharat Electronics Ltd (BEL), a Government of India company. The company received this order from BEL Chennai Units.
Previously, in December the company had received a purchase order worth Rs. 26.25 crores from Bengaluru and Chennai Units of Bharat Electronics Ltd (BEL).
Coming onto the company’s financial statements, the revenue increased by 13 percent from Rs. 121 crores during H2 FY23 to Rs. 137 crores in H1 FY24. In addition, the net profits zoomed by 50 percent from Rs. 4 crores to Rs. 6 crores during the same period.
According to the latest data, Vinyas Innovative Technologies Ltd had a strong order book position, with reported values of over Rs. 1,762 crores. These orders were primarily in the defence sector, though they also included industrial, consumer, medical, and other industries.
Due to increasing operating revenue and profits on a YoY basis, the profitability metrics of the company improved with the return on equity (RoE) increasing from 3.25 percent during FY 21-22 to 19.07 percent in FY 22-23, and, the return on capital employed (RoCE) zoomed from 11.13 percent to 17.56 percent during the same timeframe. Furthermore, the net profit margin increased from 0.49 percent during FY21-22 to 3.13 percent during FY22-23.
Headquartered in Mysore, Vinyas Innovative Technologies was incorporated in 2001. The company provides design, engineering, and electronics manufacturing services catering to global OEM and ODM Manufacturers in Electronic Industry.
Written By Vaibhav Patil
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