The shares of the railway components manufacturer hit a 5 percent upper circuit and reached a 52-week high after securing orders worth more than Rs.25 crores.
Price Movement
In Monday’s trading session, Cosmic CRF Ltd.‘s share price opened at a 52-week high of Rs.2,112.60 per share and also hit a 5 percent upper price band from its previous close of Rs.2,012 apiece.
What happened
Cosmic CRF Limited has secured multiple purchase orders from three different wagon manufacturing companies as well as six divisions of Indian Railways. The total gross value of these orders amounts to approximately Rs.25.60 crores, and the completion timeline for all contracts is set at six months.
The initial order for a domestic entity in wagon-manufacturing industries involves manufacturing 324 sets of CRF sections for BOXNS, BOSM, and BOXNHL wagons, with a total value of Rs.9.03 crores..
The subsequent order includes 122 sets of CRF sections for BOXNHL wagons, 236 sets for Centre Cill wagons, and 16 additional CRF sections, totaling Rs. 8.18 crores.
The third order for Indian Railways entails manufacturing 1,387 sets of CRF sections for Side Top/Body Top arrangements, 2,142 sets for Side Stanchions, and 240 sets for BOXNHL wagons.
Revenue Mix
Cosmic CRF Ltd. derives 80 percent of its revenue from Cold Rolled Form (CRF) products, with 15 percent coming from Fabrications and the remaining 5 percent from Prototype products.
Shareholding Pattern
As of March 2024, the promoters of Cosmic CRF Ltd. hold a 61.25 percent stake, Foreign Institutional Investors (FII) own 6.54 percent, and Retail investors hold 32.21 percent.
Financials
The company reports financial statements on a half-yearly basis. The revenue from operations of Cosmic CRF Ltd. soared by 19.4 percent year-on-year, reaching Rs.130 crore in H2FY24, up from Rs.108.9 crore in H2FY23. On a half-yearly basis, revenue climbed 5 percent from Rs.123.5 crore in H1FY24.
Profit After Tax (PAT) of the company surged 6.4 percent to Rs.5.96 crore in H2FY24, compared to Rs.5.6 crore in the of H2FY23. However, the net profit experienced a decline of 12.4 percent from Rs.6.8 crore in H1FY24.
About the company
Cosmic CRF is engaged in manufacturing of Railway Components, Sheet Piles and Structures.The products delivered by the company are cold rolled forming and manufacturing of other engineering items for electrical transmission and defence sector as well as real estate.
Written by – Siddesh S Raskar
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