EMS stock engaged in designing and manufacturing a range of products under the electrical components domain like EV chargers, tools, molds, dyes, and many more jumped 3 percent in the day’s trade upon receiving a work order worth Rs. 62.22 Crores for the supply of Whole Body MRI Machines.
Price Action
With a market capitalization of Rs. 2,465 Crores, the shares of Spectrum Electrical Industries Limited were trading at Rs. 1,609.10 per equity share, down 2 percent from its previous day’s close price of Rs. 1,609.10.
What Happened
Spectrum Electrical Industries Limited has received a new work order from Time Medical International Ventures (India) Private Limited wholly-owned subsidiary of Fischer Medical Ventures Limited for the supply of 25 units of 0.35T PICA Whole Body MRI Machines, for a consideration of Rs. 62.22 Crores.
Out of the 25 units of 0.35T PICA Whole Body MRI Machines, 14 units will be supplied by December 2024 and the remaining 11 units will be supplied by January 2025
About the Company
Spectrum Electrical Industries Limited is engaged in the business of designing and manufacturing of a range of products under the electrical components domain having different applications and utilities. It undertakes activities such as designing, fabrication, molding, powder coating, surface coating, and assembling to develop the products.
Its products electrical components like EV chargers, tools, molds, dyes, mini MCB base & cover, auto and irrigation equipment, modular electric board panels, and offers services like electroplating, injection molding, metal stamping, powder coating, etc.
Financials & Ratios
Its revenue from operations grew by 29.45 percent YoY from Rs. 253 Crores in FY23 to Rs. 328 Crores in FY24, accompanied by profits of Rs. 8 Crores to Rs. 20 Crores.
In terms of Return ratios, it has delivered a return on equity (ROE) of 15.2 percent and a return on capital employed (ROCE) of 16.2 percent. It has maintained a debt-to-equity ratio of 0.53.
Written by: Bharath K.S
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