Share price of a company engaged in the business of manufacturing of industrial chains and sprockets, hit a new 52-week high at Rs. 721.65 on BSE on February 19th, after the company announced its financial results for Q3 FY23-24. The stock is currently trading at Rs. 721.65, up by 5 percent, compared to its previous closing price of Rs. 687.30.
With a market cap of Rs. 54.56 crore, Rolcon Engineering Company Ltd. has delivered nearly 47.2 percent returns in the last six months, whereas it has given over 145.46 percent in the last one year. So far, it has given positive returns of around 21.2 percent in 2024.
The fluctuations in the share prices were observed after the company announced its financial results on Monday, for the third quarter and nine months ended 31st December 2023, through a recent filing with the BSE.
The net profit of the company increased by nearly 167.14 percent on a QoQ basis from Rs. 0.70 crore in Q2 FY23-24 to Rs. 1.87 crore in Q3 FY23-24.
However, on a year-on-year basis, the net profit jumped by around 252.83 percent to Rs. 1.87 crore in Q3 FY23-24 from Rs. 0.53 crore in Q3 FY22-23.
The company’s revenue from operations increased by nearly 16.33 percent on a year-on-year basis from Rs. 11.02 crore in Q3 FY22-23 to Rs. 12.82 crore in Q3 FY23-24.
However, on a quarterly basis, the revenue from operations of the company reduced by 11.82 percent from Rs. 14.54 crore in Q2 FY23-24 to Rs. 12.82 crore in Q3 FY23-24.
As of December 2023, the Promoters’ holdings remain unchanged at 43.28 percent, whereas, the Public holdings increased from 46.97 percent of equity shares in the company in Q2 FY23-24 to 46.98 percent in Q3 FY23-24.
Rolcon Engineering Company Ltd. was established in 1967, in technical and financial collaboration with Kobo Donghua GmbH & Co. KG, Germany, Makers of World Famous ‘KOBO” Chains, for the manufacture of transmission of steel roller chains, Conveyor, elevator and special purpose chains.
Written by Shivani Singh
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