Shares of this furniture company jumped around 15 percent in Thursday’s trading session after receiving an order from TCS worth Rs. 3.24 crores. In one month, the shares have delivered around 30 percent to its shareholders.
With a market capitalization of Rs. 216 crores, the shares of Transteel Seating Technologies Ltd started Thursday’s trading on a higher note at Rs. 99.90 compared to its previous close of Rs. 97.35. During the trading session, the shares hit a high of Rs. 114.25, gaining around 15 percent, also recorded as the company’s fresh 52-week high and are currently trading at Rs. 108 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that in collaboration with Flipspaces Technology Labs Private Limited and Assotech Ltd, they had received an order to supply 8,000 chairs which as to be installed before 31st March for Tata Consultancy Services Limited.
Looking at the company’s financial statements, the revenue zoomed by 112 percent from Rs. 27.99 crores during FY21-22 to Rs. 59.47 crores in FY22-23. In addition, the net profits magnified from Rs. 1.05 crores to Rs. 9.09 crores during the same timeframe.
Due to increasing operating revenue and profits on a YoY basis, the profitability metrics of the company improved with the return on equity (RoE) increasing from 28.88 percent during FY 21-22 to 59.14 percent in FY 22-23, and, the return on capital employed (RoCE) zoomed from 20.06 percent to 41.86 percent during the same timeframe. Furthermore, the net profit margin increased from 5.68 percent during FY21-22 to 15.28 percent during FY22-23.
The company has experience centres in Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Mumbai and Pune and its customer list includes Infosys, Bosch, ITC, Titan, American Express, Volvo and many more.
Headquartered in Bangalore, Transteel Seating Technologies was incorporated in 1995. The company is a known furniture provider with over 20 years of corporate and B2B experience. The Company has developed the skill and expertise in making chairs, office furniture, and other residential and commercial furniture.
Written By Vaibhav Patil
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