Shares of Vesuvius India Limited surged in the early trading hours today and soon after hit the 20 percent upper circuit at a price of Rs 2,268.80. The same price is marked as the stocks’ new 52-week high figure. In the last one-month period, the stock price has gained almost 33 percent ranging from Rs 1,700 to the current price levels.
The company, yesterday, announced its standalone results for the last quarter as well as for the annual period pertaining to the Financial Year 2022-2023. Facts and figures are been discussed later on in the report.
Vesuvius India Limited is an Indian company that is primarily engaged in the process of manufacturing, trading, and sale of refractories. Moreover, it also provides services with respect to the refractory goods. The company has operations within the country and overseas generating the majority of revenues from domestic sources.
Having a glance at the financials reported by the company, the operating revenues have increased from Rs 348 crores in the December quarter v/s Rs 368 crores during the March quarter. Moreover, the net profit figures have shown a decent amount of growth from Rs 28 crores to Rs 43 crores during the same time horizon.
Comparing the March 2022 quarter v/s March 2023 quarter period, the above-mentioned metrics have gone up with the operating revenues moving from Rs 312 crores to Rs 368 crores and net profits increasing from Rs 24 crores to Rs 43 crores showcasing an increase of approximately 80 percent.
The basic profitability metrics have been on the rise in recent financial years with the return on equity (ROE) increasing from 7.83 percent during FY20-21 to 12.33 percent in FY21-22 and the return on capital employed (ROCE) taking a shift from 10.65 percent to 16.66 percent.
As per the latest shareholding data released for March 2023, promoters of the company hold a 55.57 percent stake, and Foreign Institutional Investors (FIIs) hold a 0.84 percent stake in the company.
Written by Amit Madnani
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