Multibagger stock engaged in the business of manufacturer, supplier and trader of various types of furniture catering to airports, hospitals, educational instituions and many others jumped 4 percent in the day’s trade upon receving work order from the Ministry of Aviation.
Price Action
With a market capitalization of Rs. 350 Crores, the shares of Parin Furniture Limited were trading at Rs. 315 per equity share, up 1.30 percent from its previous day’s close price of Rs.311. It has delivered a multibagger return of 330 percent in a year.
What Happened
Parin Furniture Limited has received a new work order from the Ministry of Civil Aviation, Airports Authority of India, for the supply of Airport Furniture to Vadodara Airport for a consideration of Rs. 77 Lakhs.
In Additon, recently it has received another work order worth Rs. 1.82 Crores from the Ministry of Civil Aviation, Airports Authority of India for the supply of Airport Furniture in different states of India.
About the Company
Parin Furniture Limited is engaged in the business of manufacturer, supplier and trader of 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
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
