The shares of Multibagger stationery manufacturer, which is one of the leading players in the segment it operates, gained 2 percent in the day’s trade after it announced a joint venture with Morris Co. Ltd to carry out manufacture and sale of anti-ink dry markers with automatic air tight sealing mechanism.
At 3:00 p.m the shares of Linc Limited were trading at Rs. 790.95 down 0.30 percent from its previous day close price and its market capitalization is Rs. 1,178 Crores.
As per the company’s filing, Linc Limited has entered into a joint venture agreement with Morris.Co Ltd to carry out manufacture and sale of anti-ink dry marker with automatic air tight sealing mechanism through its new JV named Morris Linc Private Limited.
Linc Limited will hold 50.01 percent and Morris Co.Ltd will hold 49.99 percent stake in the newly formed joint venture company named Morris Linc Private Limited, Linc and Morris shall fund it in accordance with their said agreement.
The company’s revenue grew 37.13 percent from Rs. 354.96 Crores in FY22 to Rs. 486.76 Crores in FY23, accompanied by increasing profits of Rs. 8.13 Crore to Rs. 37.4 Crores.
It has reported a return on equity (ROE) of 23.37 percent and a return on capital employed (ROCE) of 31.4 percent, it has made good returns on its equity and capital employed.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold 59.28 percent stake, Domestic Institutional Investors hold 0.38 percent andForeign Institutional Investors hold 1.43 percent.
Linc Ltd is primarily engaged in the manufacturing of Writing instruments and stationeries, it is also the exclusive importer and distributor of Asia’s biggest stationery giant, Deli and world famous pen brand Uni-ball, Mitsubishi Pencil Co.Japan in India.
Written by: Bharath K.S
