Shares of a small-cap construction company gained 15 percent on Thursday’s early trades to reach an intraday high of ₹ 72.00 apiece on the Bombay Stock Exchange (BSE). This happened after the company reported its results for the April to June quarter of the financial year 2023-24. At 12:32 PM, its shares were trading at ₹ 67.05 apiece.
According to an exchange filing, the company reported a 116 percent increase in its revenue from operations to ₹ 51.49 crores in the first quarter of the current financial year (Q1FY24), compared to ₹ 23.73 crores reported in the corresponding quarter last year (Q1FY23). Its profit increased by 21.50 percent to ₹ 19.50 crores in Q1FY24, compared to ₹ 16.05 crores in Q1FY23.
Elpro International is engaged in manufacturing surge arresters, construction and development of real estate properties, equity investment in third parties and windmill operations.
With a market capitalization of ₹ 1060 crores, it is a small-cap company. It has a low return on equity of 3.84 percent and an ideal debt-to-equity ratio of 0.13. Its shares were trading at a price-to-earnings ratio (P/E) of 20.65 and it has a dividend yield of 0.37 percent.
As per the company’s shareholding pattern, its promoters hold a 74.99 percent stake in it, followed by retail investors with 12.58 percent and foreign institutions with 12.42 percent.
The company recently announced that it has agreed to acquire 78,12,500 non-cumulative compulsorily convertible preference shares of Jana Small Finance Bank for the purpose of investment.
Written by Simran Bafna
