On Monday the share price of the company rose by 1.2 percent from its intraday high of Rs 90.1 per share from its previous close of Rs 88.98 after the company announced it acquired 49,300 equity shares worth Rs 2.88 crores in a fertilizer company.
According to the filing of Elpro International Limited, the company has acquired 49,300 equity shares worth Rs 2.88 Crores from E.I.D. Parry (India) Limited in the line of business of Fertilizers and Agrochemicals.
E.I.D. Parry (India) Limited (E.I.D. Parry) is in the Sweeteners and Nutraceuticals industry. The Company is headquartered in Chennai, India, and is a subsidiary of the Rs 57,000 billion Murugappa Group, one of India’s leading business conglomerates.
Net revenue increased 44.2 percent year on year, from Rs 24.44 crores in Q2FY23 to Rs 35.26 crores in Q2FY24, according to the company filing. On a quarterly basis, their revenue fell 31% from Rs 51.49 crore in Q1FY24 to current levels.
In addition, the net profit fell 2.3 percent year on year, from Rs 18.67 crores in Q2FY23 to Rs 18.23 crores in Q2FY24. Their net profit fell 6.5 percent sequentially from Rs 19.5 crores in Q1FY24 to current levels.
Elpro International Limited, with a market capitalization of Rs 1,500 crores, is a small-cap company. The share price has risen by 39 percent in the last six months and by 32 percent last year.
When compared to its peer companies, the company’s price-to-earnings ratio is low at 28, also its debt-to-equity ratio is low at 0.10 and its net profit margin is 30 percent.
The promoters own 74.99 percent of the company, the general public owns 13 percent, foreign institutional investors own 12 percent, and domestic institutional investors own 0.01 percent.
Elpro International Limited was established on July 27, 1962. The Company operates in several business sectors, including surge arrester manufacturing, real estate construction and development, equity investment in third parties, and windmill operations.
Written by Sriram KV
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