The share price of this watches and accessories firm surged by 3 percent to an intraday high of Rs 3,399.00 per share after announcing a buyback of 2,37,837 equity shares through a tender route.
Share Price Movement
With a market capitalization of Rs 4,215.97 crores, the shares of KDDL Limited surged by 0.13 percent and closed at Rs 3,310.00 apiece on Wednesday. The shares of this company generated a multibagger return of 126.48 percent over the past year and 20.39 percent over the past 6 months.
What Happened
According to KDDL Limited’s stock exchange filings, the firm has announced the buyback of up to 2,37,837 equity shares or 1.90 percent stake with a face value of Rs 10 per share at a buyback price of Rs 3,700 per share. The buyback is done through a tender offer route and is payable in cash for an aggregate amount not exceeding Rs 88 crores.
Financials
Reviewing the financials of KDDL Limited on a year-on-year basis, the revenues declined by 24.3 percent from Rs 1,119 crores in FY23 to Rs 1,391 crores in FY24. In the same time frame, the net profits increased from Rs 77 crores to Rs 137 crores, demonstrating a 78 percent increase.
Ratios
In terms of return ratios for the year 2024, it has reported a return on equity (ROE) of 14 percent and a return on capital employed (ROCE) of 16.10 percent. It has also reported a debt-to-equity ratio of 0.14 times for the same period.
Shareholding Pattern
As of March 2024, the firm’s shareholding pattern stood at 50.21 percent for promoters, 36.39 percent for the public, 11.46 percent for foreign institutional investors, and 1.63 percent for domestic institutional investors.
Manufacturing Facilities
KDDL Limited has manufacturing facilities at Pawanoo (Himachal Pradesh), Derabassi (Punjab), and Bangalore (Karnataka).
About the Company
Incorporated in 1981, KDDL manufactures watch components like dials, hands, and precision engineering goods under the brand name, Eigen. Its Others segment is engaged in the manufacturing and distribution of packaging boxes. The Company also manages the retail chain of luxury Swiss watches in the organized sector through its subsidiary, Ethos Limited.
Written By Zahal
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