The shares of this small-cap stock gained 6 percent, reaching a 52-week high price of ₹1,295.50 per share on Tuesday after the company board approved raising funds through QIP up to ₹150 crores.
At 2:30 p.m., XPRO India Ltd. shares were trading at ₹1,249.15 per share, up 2.15 percent from the previous close price on the National Stock Exchange. The company has a market capitalization of ₹2,582 crore.
The board of directors, on February 26, 2024, approved fundraising through a qualified institution placement, allowing for a maximum sum of ₹150 crore. This entails the issuance of equity shares, each valued at ₹10, and a specified minimum floor price of ₹1,158.32 per equity share.
XPRO India Ltd. experienced a 3.2 percent year-on-year increase in revenue, rising from ₹93 crore in Q3 FY23 to ₹96 crore in Q3 FY24. Similarly, during the same period, net profit witnessed an increase of 83% from a profit of ₹6 crore to a loss of ₹11 crore.
In comparison to the preceding quarter, operational revenue dropped by 12 percent, decreasing from ₹110 crores in Q2 FY24 to ₹96 crores in Q3 FY24. Additionally, net profit has slightly increased by 22% from ₹9 crores to ₹11 crores during this timeframe, as reported in the company’s exchange filing.
XPRO India Ltd is engaged mainly in the business of polymer processing at multiple locations and is a leading manufacturer in India of Coextruded Plastic Films, thermoformed liners and specialty films (including dielectric films and special purpose BOPP Films).
XPRO India Ltd shares have gained 36 percent in the last six months and 135 percent in a year.For instance,a shareholder investment of ₹ 1 lakh in the company,would be worth ₹2.35 in a year.
Written by Omkar Chitnis
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