The shares of a leading producer of sprayer components in India rose around 4 percent to an all-time high of Rs 192.85 per share, following the acquisition of a new manufacturing plant.
At 3:25 p.m. A leading forging product manufacturer Sprayking Agro Equipment Ltd shares were trading at Rs 187 a share on the Bombay Stock Exchange, up 1.80 percent.
As per company’s exchange filing, The company has acquired a new manufacturing plant in Jamnagar, Gujarat. The unit will manufacture brass and forging components. The new production facility is spread over 3,000 square metres and was obtained on rent from a third party. The establishment of this production plant will boost the Company’s market position
In the last year, the stock gained a multibagger return of 1,108 percent from Rs 15.48 to current levels. As a result, a shareholder who purchased 1 lakh shares of the company a year ago now has holdings worth 12 lakhs!
In recent months, Sprayking Agro Equipment has purchased a 51% share in M/s. Narmada Brass Industries in order to expand the business. With this purchase, the company is expanding rapidly and meeting new orders from both the local and overseas markets.
Sprayking Agro Equipment Ltd is a spare parts manufacturer. Its goods include agriculture parts, plumbing components, car parts, and electrical parts, among others. The company serves both domestic and foreign customers.
According to a year-on-year comparison of financials, Company’s revenue climbed by 26 percent from Rs 15 crores in FY 21-22 to Rs 19 crores in FY 22-23. Within the same time period, the net profit climbed by 385 percent, from Rs 0.35 crore to Rs 1.70 crore.
In FY 22-23, the company’s profitability ratio increased, with Return on Equity at 6.87 percent and Return on Capital Employed at 9.76 percent, as well as net profit margin at 8.79 percent and operating margin at 12.57 percent.
According to the most recent shareholding pattern, promoters own 36.41 percent of the corporation, while retail investors own 63.59 percent.
Written by Omkar Chitnis
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