Multibagger stock engaged in manufacturing, supplying, and trading various types of furniture catering to airports, hospitals, educational institutions, and many others in focus upon receiving a work order worth Rs. 11.86 Crores from the Gujarat Education Department.
Price action
With a market capitalization of Rs. 374 Crores, the shares of Parin Furniture Limited were trading at Rs. 336.25 per equity share, up 2 percent from its previous day’s close price of Rs. 330.50. It has delivered a multibagger return of 374 percent in a year.
What Happened
Parin Furniture Limited has received a new work order from Samagra Siksha Abhiyan Dept. Schools of Excellence Project by the Government of Gujarat Education Department for the supply of School Desks with chairs to different schools across Gujarat for a consideration of Rs. 11.86 Crores.
In Addition, it has recently received a work order from the Ministry of Civil Aviation, Airports Authority of India for the supply of Airport Furniture to Raipur Airport-Chhattisgarh for a consideration of Rs. 46.20 Lakhs.
About the Company
Parin Furniture Limited is engaged in the business of manufacturing, supplying, and trading various types of furniture. It deals in Hospital Furniture, Airport, Education and Institutional Products, Office desking and Seating solutions, Public seating solutions, Housing furniture, and many others.
Financials & Ratios
Its Revenue from operations grew by 0.91 percent from Rs. 81.19 Crores in FY23 to Rs. 81.93 Crores in FY24, accompanied by profits of Rs. 3.09 Crores to Rs. 2.27 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 4.01 percent, and a return on capital employed (ROCE) of 7.21 percent. It has reported a debt-to-equity ratio of 0.78.
Written by: Bharath K.S
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