This Microcap engineering company that operates in different segments hit a 10% upper circuit in the day’s trade after it reported a 174.70% jump in net profit in Q3FY24 results.

With a market capitalization of Rs. 402 Crores, the shares of Birla Precision Technologies Limited was up 10% upper circuit at Rs. 61.62, from its previous day’s close price of Rs. 56.02. The stock has outperformed the Nifty by rising 38.13% in the last 6 months and 72.12% in the last year.

Its revenue from operations grew by 13.95% YoY from Rs. 59.05 Crores in Q3FY23 to Rs. 67.29 Crores in Q3FY24. On a QoQ basis, their profits jumped by 18.61% from Rs. 56.73 Crores in Q2FY24.

Its Net Profit grew by 72.61% YoY from a profit of Rs. 4.09 Crores in Q3FY23 to a profit of Rs. 7.06  Crores in Q3FY24 and it grew 174.70% QoQ from Rs. 2.57 Crores in Q2FY24.

Birla Precision Technologies Limited is into engineering. They are engaged in the manufacturing and selling of machine tool accessories, tools, precisions/automotive components, and castings.

The company is divided into three segments: Tools, Automobiles & Auto Components, and Precision Components. The Tool division, branded as BPT, offers to collect chucks, side lock adapters, VDI shanks, and Tapping systems.

The Automotive division fabricates castings, machined products, and precision components. Lastly, the Precision Component division manufactures engine components, shafts, spools, and other products.

In Q3FY24, 96.89% of revenue from operations came from the tooling segment (up 36.30% YoY), 3.03% from Automotive components (down 81.65% YoY), and 0.07% from others (up 31.16% YoY).

Written by: Santhosh S


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