Microcap stock gained 5% after the company acquired UK-based company Semcon Engineering UK Ltd to improve its business in foreign lands.
With a market capitalization of Rs. 491 crores, the shares of ASM Technologies Ltd opened its Thursday trading session on a higher note at Rs. 468 making a gain of around 5 percent and currently trading at Rs. 470 apiece.
In an exchange filing the company mentioned that it had acquired Semcon Engineering UK Ltd which works with a large number of clients within several industries, including the automotive/mobility industry, energy, and life science sectors.
Furthermore, the company mentioned that with the acquisition of Semcon’s operations within Engineering & Digital Services, ASM Technologies will benefit from access to global customers in the UK and Europe.
In particular, ASM will build both scale and competence, relevant to the transportation industry as it transitions to new propulsion systems and ever-increasing levels of driver assistance and autonomy.
Digging into the financials of the company, the revenue of the company was Rs. 50.95 crores during Q1 FY24, and the net profit was recorded at Rs. 40 lakhs keeping the timeframe same.
Coming on to the important financial ratios, the return on equity (RoE) was at 10.42 percent during FY 21-22. In addition to this return on capital employed (RoCE) was 15.23 percent during the same period.
According to the latest shareholding pattern, Promoters have a 62.79 percent stake in the company and the remaining 37.19 percent is with the Public or Retail Investors.
Established in 1992, ASM Technologies Limited is a publicly-listed company in India with a global presence in the USA, Singapore, UK, Canada, Mexico, and Japan.ASM Technologies has expertise in the area of Engineering Services and design-led Manufacturing.
Written By Vaibhav Patil
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