Engineering stock engaged in the manufacture and sale of customized textile machinery, machinery parts, and many more jumped 16 percent in the day’s trade upon receiving a work order worth Rs. 7.47 Crores from SKF Limited.
With a market capitalization of Rs. 48 Crores, the shares of Meera Industries Limited started their trading at Rs. 42.39 and currently trades at Rs. 44.50, up 6.26 percent from its previous day’s close price of Rs. 41.88.
Meera Industries Limited, a leading manufacturer of twisting, winding, and heat setting machines for the textile industry has announced that it has secured a significant domestic order from SRF Limited for the supply of Ring Twisting Machines for a consideration of Rs. 7.47 Crores.
The advanced Ring Twisting Machines ordered by SRF Limited will be used to produce high-performance fabrics for a variety of industrial applications. This is a major win for Meera Industries Limited for solidifying its position as a leader in the technical textiles market.
Meera Industries Limited is engaged in the business of manufacture and sale of customized textile machinery, machinery parts, and a comprehensive range of technologically advanced machines that cater to the diverse requirements of the textile industry. It is a leading manufacturer of Twisting Machines and Heat Setting Machines.
It is also involved in the trading and manufacturing of yarn including the import and export of the same and provides a combination of design, manufacturing, testing facilities, and after-sales support.
Its revenue from operations grew by 48 percent from Rs. 5.06 Crores in Q3FY23 to Rs. 7.61 Crores in Q3FY24, accompanied by a loss of Rs. 40 Lakhs to a profit of Rs. 46 Lakhs.
Written by: Bharath K.S
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