The shares of steel manufacturers hit 5 percent upper circuit at Rs 650.00 apiece after domestic institutional investors bought a 0.68 percent stake in the company.
With a market capitalization of Rs 317.16 crore, the shares of Kalyani Cast-Tech Ltd were trading at Rs 441.70 per share, increasing around 4 percent as compared to the previous closing price of Rs 420.70 apiece.
Reason for rise:-
The shares of the company have seen bullish movement after Smart Horizon Opportunity Fund, Domestic institutional investors bought 49,000 equity shares which is equivalent to 0.68 percent in the company. However, promoter Visisth Services sold a 2.08% stake at an average price of Rs 405.83 per share.
Furthermore, as of September 2024, Visisth Services holds 9,70,000 equity shares equivalent to 13.51 percent of the company.
Financial performance:-
Examine the company’s financial condition, revenue jumped by 43 percent from Rs 49 crore in H1FY24 to Rs 70 crore in H1FY25, and during the same time frame, net profit zoomed by 33 percent from Rs 6 crore to Rs 8 crore.
Product Portfolio:-
The company specializes in products like Dwarf Containers, MG Coupler Components, CI Brake Blocks, WDG4 Loco Adapters, DIN 17182 Bearing Housings for electric locos, Container Corner Castings, Motor Hub Traction Motors, Railway Coach Side Buffer Plungers, and End Covers for Electric Locos.
User Industries and Facility:-
The company operates a casting unit with an in-house machining facility in Rewari, Haryana, comprising a Foundry Section and a Container Manufacturing Section. It serves Indian Railways, mining, cement, chemical and fertilizer plants, and power industries.
Growth Projection:-
The company anticipates a 40-50% increase in revenue for FY25. This projection is based on recent conference calls and reflects strong demand for its products, particularly in the cargo container manufacturing sector, also Kalyani Cast-Tech expects a profit after tax (PAT) margin ranging from 10-13%.
Company Profile:-
Kalyani Cast-Tech Limited manufactures steel, SG iron, and cast iron components. The company manufactures and maintains railway rolling stock, freight containers, castings, and industrial machinery parts. Kalyani Cast-Tech services customers all over the world.
Written by:- Abhishek Singh
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