A monopoly company with a 30-year legacy in superior sealing technology and the market leader in Indian seal manufacture gained 11% after the company received accreditation for Nuclear Applications.
Sealmatic India Ltd shares were trading at Rs 407.95, up 7.95 percent on the BSE at 2:45 p.m., with a market capitalization of Rs 364 crore.
As per exchange filings, Company obtained ISO 19443 accreditation for Nuclear Applications and is the only mechanical seal company in India/globally which received this Certification. This will enhance company expertise in the nuclear energy sector, nuclear safety best practices, and field-specific needs in order to achieve maximum efficiency.
Sealmatic India Limited that designs and manufactures mechanical seals and related products. It has a global presence in over 45 countries.Sealmatic India is one of the few Indian companies that has been approved/registered as a vendor with both national and international clients.
In terms of financials, sales increased by 38% year on year, from Rs 42 crore in FY 21-22 to Rs 58 crore in FY 22-23. Likewise, net profit climbed by 25%, from Rs 8 crore to Rs 10 crore.
For the fiscal year ending March 31, 2023, the company has recommended a dividend of Rs. 1.10 (i.e. 11% per share) every equity share with a face value of Rs. 10/-.
The company’s total assets increased from 29 crore to around 39 crore in FY2022, while its total borrowings decreased significantly by 179 Lakhs, indicating that the company is investing more in its assets for long-term growth while also paying off its debt to a large extent.
As per the latest shareholding pattern, promoters own 72.38 percent of the firm, domestic institutional investors own 4.42 percent, and retail investors own 22.53 percent as of FY 22-23.
Written by Omkar Chitnis
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