In Thursday’s first half session, shares of Equipment Manufacturer for Oil and Gas, Petrochemicals, Power, and Metallurgy Industry rose in response to the company’s impressive June Quarter results.
Artson Engineering Ltd shares, with a market capitalization of Rs 367 crore, were locked at the 20 percent upper circuit at a price of Rs 99.52 from the previous close price.
According to exchange filings, In Q1FY23-24, the company’s financials improved. When compared to the same quarter last year, operating revenue grew by 13 percent to Rs 42 crore in Q1FY24. Similarly, net profit increased 120 percent to Rs 1 crore.
Operating revenue grew by 40 percent to Rs 42 crore in Q1 compared to the prior quarter in Q4. Likewise, net profit increased by 111 percent to Rs 1 crore.
Artson Engineering Ltd produces products and systems for fuel handling and tankage constructing in refineries, as well as multidisciplinary engineering operations.Company’s core competency are Engineering, Procurement, Construction (EPC) Contracts Since 2008, Tata Projects Limited has owned a 75% share in the company.
In the previous two months, the stock has increased by 55.11 percent, from Rs 64.16 to the present price.
The company received orders for Supply of Pressure Vessels and Erection & Commissioning Spares worth Rs. 14.49 crores in the previous quarter of the year, and an order for Engineering Equipment Installation and Commissioning works at GRSE worth Rs. 17.16 crores in January 2023.
As per the latest shareholding pattern, promoters of the company hold a 75 percent stake, and retail investors hold a 24.98 percent stake in the company as of FY 22-23.
Written by Omkar Chitnis
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
