Penny stock which is one of the leading players in brass parts manufacturing, including Brass Fittings, Brass Forging Equipment, and many more in focus upon receiving an order worth Rs. 4 Crores and launching two new brands in the African markets.
With a market capitalization of Rs. 240 Crores, the shares of Sprayking Limited were trading at Rs. 45.30, down 3.39 percent from its previous day’s close price of Rs. 46.89. It has delivered multibagger returns of 130 percent in a year.
Sprayking Limited has received work orders worth Rs. 4 Crores, along with an advance received for Brass rod production it is poised for expansion and innovation in its product offerings.
The advance received for Brass Rod signifies the confidence and trust that customers have placed in Sprayking Limited’s capabilities. This further enables it to invest in research and development, enhancing its product portfolio and maintaining its competitive edge in the market.
Leveraging its expertise in manufacturing precision equipment, it has introduced two new brands tailored to meet the diverse needs of customers in African countries. These brands, TPU-PLUMB and NAIK, have been meticulously developed and are registered under quality certification in the South African Bureau of Standards (SABS).
With the introduction of TPU-PLUMB and NAIK brands marks a strategic move by Sprayking Limited to expand its footprint in African countries. With a commitment to meeting stringent quality standards, both brands are poised to offer innovative solutions and unparalleled performance in their respective segments.
Sprayking Agro Equipment Limited is one of the leading players in brass parts manufacturing, including Brass Fittings, Brass Forging Equipment, Brass Transformer Parts & other Customized Brass Parts. It is also engaged in manufacturing and trading of agricultural sprayer parts & garden fittings, extruded brass rods, brass fittings & lead-free Brass fittings, and forging specialty.
Its revenue from operations grew 520 percent from Rs. 5.27 Crores in Q3FY23 to Rs. 32.65 Crores in Q3FY24, accompanied by profits of Rs. 0.29 Crore to Rs. 3.37 Crores.
Written by: Bharath K.S
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