Shares of this microcap company clocked a 5 percent upper circuit in Monday’s trading session after the board approved the entry into Solar Energy Projects along with the quarterly results. The shares have delivered 30 percent returns to its investors in six months.
With a market capitalisation of Rs. 26.7 crores, the shares of SBEC Systems (India) Ltd started Monday’s trading session on a higher note at Rs. 27.44 compared to its previous close of Rs. 26.14. Within minutes of the opening bell, the shares hit a 5 percent upper circuit at Rs. 27.44 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that the Board had approved the setting up of a new line of business for the Solar on Grid System Project, the said project is to be set up at Modi Arc Electrode company.
Furthermore, they mentioned that, with the growing demand for Solar Energy, and with the initiative and encouragement of the Government of India through various incentive schemes, the company would like to avail the benefits arising from the growing demands of the proposed new products.
Along with the announcement, the company also declared its October to December results. Looking at the consolidated financial statements, the revenue increased by 7 percent from Rs. 65 lakhs during the September quarter to Rs. 70 lakhs in the December quarter. In addition, the net profits increased by 17 percent from Rs. 24 lakhs to Rs. 28 lakhs during the same period.
Comparing these metrics on a YoY basis, the revenue increased marginally by 4 percent from Rs. 67 lakhs during Q3FY23 to Rs. 70 lakhs in Q3FY24. On the other hand, the net profits zoomed by 87 percent from Rs. 15 lakhs to Rs. 0.28 lakhs during the same timeframe.
According to the latest shareholding pattern, the Promoters have 51 percent of the shares and the remaining 49 percent of stakes are with the Retail Investors.
Headquartered in New Delhi, SBEC Systems (India) Ltd was incorporated in 1987. The company is in the business of supplying equipment and consultancy services to the industries.
Written By Vaibhav Patil
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.
