The share price of the Micro-cap company rose by 2% to hit its upper circuit of Rs 147.20 per share from its previous close of Rs 144.35 after the company acquired a 20% stake in the Singapore-based company.
According to the exchange filing, the company Envair Electrodyne Ltd., acquiring a 20% stake in Alliance Asia-Pac Pte. Ltd. (AAPL) of Singapore, a contract manufacturer for global FMCG companies, at USD 1.05 per share.
With Alliance Asia-Pac Pte. Ltd AAPL holds significant expertise in soap manufacturing, particularly serving Unilever PLC and other clients across over 20 countries, the acquisition aims to facilitate Envair’s strategic expansion into this sector, capitalizing on Alliance Asia-Pac Pte. Ltd AAPL’s established operations in North Sumatra, Indonesia.
The company’s share price rose 89% in the last six months and 148% in the last year. For instance, if an investor invested Rs 1 Lakh the current value of the investment would be 2.48 lakh.
Envair Electrodyne Ltd.’s net revenue increased on both an annual and quarterly basis, going from zero to thirty-one lakhs. The company’s net loss was reduced by 57% YoY from a net loss of 21 lakh to a net loss of 9 Lakh.
Envair Electrodyne is a debt-free company, however, their return on equity, return on capital employed and the net profit margin remain negative.
With a market capitalization of Rs 75 crores, it is a micro-cap company, the promoter of the company holds the majority of the stake which is around 57 percent and 43 percent of the company’s stake held by the retail investor.
Envair Electrodyne Limited is an India-based company that manufactures industrial machinery. Products and services offered by the company include clean air equipment, workstations, and electrostatic oil cleaners.
Written by Sriram KV
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