This microcap stock, which trades mobiles, electronic products, fashion accessories, and services, dropped 13.37% in day trade hours after partnering with a distributor. 

With a market capitalization of Rs. 216 Crores, the shares of Palred Technologies Limited were trading at Rs. 176.60, down 13.37% from its previous day’s close price of Rs. 203.85. The stock has outperformed the Nifty and risen 549% over the past 5 years. 

Its revenue from operations dropped by 38.69% YoY, from Rs. 30.86 crores in Q3FY23 to Rs. 18.92 crores in Q3FY24, and was sequentially down 54.60% QoQ. Its reported loss which has increased by 72.75% YoY, from a loss of Rs. 0.85 crores in Q3FY23 to Rs. 3.12 crores in Q3FY24, QoQ losses increased by 108.33 %. 

The company has partnered with Creative Newtech, a distributor and marketing partner for global IT, imaging, and lifestyle brands through omnichannel presence, to distribute the pTron brand of audio, smart wearables, and mobile accessory products across India. 

Palred Technologies and its subsidiaries trade in electronic products, fashion accessories, and offer related services. Its subsidiary, Palred Electronics Private Limited, owns the consumer electronics brand pTron. 

Palred’s product range includes wired and wireless earphones, headsets, bluetooth speakers, smart wearables, power banks, chargers, cables and various others. They sell their products on e-commerce websites such as Flipkart, Amazon, etc. Its subsidiary, Palred Retail Private Limited, owns the e-commerce websites ptron.in and www.LatestOne.com, which specialise in selling technology and mobile accessories. 

According to the company’s segment in FY23, revenue from product sales accounted for 98.98%, up 16.20% YoY, and 1.02% from service sales, which grew flat YoY. 

Written by: Santhosh S 


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