A multifaceted textile company received an order from the Ministry of Defence on Wednesday. The share price of the company moved up by 2.04 percent and closed at Rs. 169.75, whereas its previous closing price was Rs. 166.85.
With a market capitalisation of Rs. 219 crore, shares of Shiva Texyarn Ltd. opened at Rs. 164 and hit a new all-time high at Rs. 177 on January 31st.
The company has delivered a positive return of nearly 10.1 percent in the last six months compared to more than 38.46 percent in the last one year. So far in 2024, it has given around 18.54 percent returns.
According to the recent filings on the stock exchanges, Shiva Texyarn Ltd. received an order from the Ministry of Defence and the total amount of the contract is Rs. 53.86 crore.
The order received from the government of India is for the supply of NBC (Nuclear Biological and Chemical) suits with a total quantity of 26,667.
Further, the delivery of the entire 26,667 number of NCB suits is to be executed within a period of 8 months.
In terms of financials, the revenue from operations of Shiva Texyarn Ltd. increased by 9.5 percent from Rs. 90.16 crore in the December 2023 quarter to Rs. 98.73 crore in the September 2023 quarter.
The company reduced its losses by 56 percent from Rs. 5.9 crore in the June 2023 quarter to Rs. 2.59 crore in the September 2023 quarter.
As of December 2023, the Public holds 25.96 percent of the shares in the company, and the Promoters’ holding has remained unchanged at 74.04 percent.
Incorporated in 1980, Shiva Texyarn Ltd. operates in a range of segments from yarn and fabric to providing textile solutions and have an experience of more than two decades in the spinning industry.
The company is engaged in the manufacturing of cotton yarn and technical textile products like coated and laminated fabrics, home textiles and other value-added products.
Written by Shivani Singh
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