This S&P BSE Smallcap stock has risen over 2.7% today after it announced the inauguration of a new facility at Nashik. The stock has a market cap of Rs. 3,966 crore and was listed in late April 2023.
The stock saw volumes that are over 1.25x the weekly average and is trading 0.3% above its 20 day moving average, closing at Rs. 613.55, up from Rs. 597.15 at closing on Monday.
Kirloskar Pneumatic Co.Ltd. (“KPCL”) announced in a filing dated 26th September 2023 that it has formally inaugurated the new manufacturing facility at Eklahere, Nashik today. This facility includes a 32 MT forge hammer to make High Speed Gear Blanks and a comprehensive fabrication facility to make base frames, pressure vessels and a range of heat exchangers.
The facility will primarily cater to the requirements of KPCL and help in enhancing the competitiveness through Value chain advantage as well as to speed up execution of projects. The facility will also earmark about 25% of its capacity to external customers. In the first phase the plant can produce about 6 KMT of forged parts of sizes up to 0.5 MT each incrementally every year.
The plant also can fabricate complex parts up to 35 MT each. The investment in the plant is in line with the company’s aim to be a comprehensive and reliable supplier of Compression systems for Air, Refrigeration and Gas.
KPCL engages in the design, manufacture, and supply of industrial air compressors, gas compressors, and pneumatic tools in India and abroad and has a strong financial book indicated by Piotroski F score of 7 out of maximum score of 9 and revenue, net profits’ 3 year CAGR at 14% and 24% respectively and also an ROE of 13.9%.
Written by Sandeep R
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