The shares of the leading manufacturer and exporter of kitchen cookware gained up to 7 percent after ICICI Prudential Mutual Fund bought 9.07 lakh equity shares.
With a market capitalization of Rs 4,012.96 crore, the shares of Nirlon Ltd were trading at Rs 445.30 per share, increasing around 3.69 percent as compared to the previous closing price of Rs 429.45 apiece.
As of December 2023, Sadafuli Finvest Pvt Ltd holds 9.47 lakh equity shares which is equivalent to 1.05 percent of Nirlon Ltd out of which Sadafuli Finvest offloads 9,07,302 equity shares which is 1 percent of the company.
As per the moneycontrol, ICICI Prudential Mutual Fund has bought 9.07 lakh equity shares which is equivalent to 1 percent of paid-up equity in the company at an average price of Rs 430 per share.
Looking into Nirlon Ltd’s financials, the revenue increased by 5 percent, from Rs 144 crore in Q3 FY23 to Rs 152 crore in Q3 FY24. During the same period, net profit decreased by 4 percent, from Rs 54 crore to Rs 52 crore.
Nirlon Ltd. is in the business of establishing and operating the Industrial Park / Information Technology (IT) Park, Nirlon Knowledge Park (NKP) – Goregaon (East) in Mumbai.
The company’s broad businesses include real estate development and kitchenware production, with a wide range of products and services available in each.
As per the latest shareholding pattern data for the quarter ended December 2023, the company’s Promoters hold a 70.34 percent stake, and the Foreign Institutional Investors (FIIs) hold a 14.25 percent stake in the company.
Nirlon Ltd. reported return ratios in the recent financial year with a return on equity (ROE) of 35.9 percent and a return on capital employed (ROCE) of 22.4 percent.
Nirlon Limited develops and manages industrial parks and information technology (IT) parks. The Company focuses on the development and administration of industrial park activities in Goregaon (East), Mumbai.
Written by:- Abhishek Singh
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