The shares of this recently listed stock jumped approximately 15 percent in Monday’s trading session after the company successfully bagged an order worth Rs 2.28 crores for the supply of Air Duct Assemblies.
With a market capitalization of Rs 135.65 crores, the stocks of Presstonic Engineering Limited opened their trading hour on Monday at Rs 168 and currently trade at Rs 176.40, gaining around 15 percent as compared to the previous closing levels of Rs 153.15 apiece.
Such bullish stock price movements were observed after the company, through its regulatory filing with the Bombay Stock Exchange (BSE), intimated that it has received a purchase order worth Rs 2.28 crores for the supply of Air Duct Assemblies for “Vande Bharat” trains.
From the limited information available for the company’s financials, the prime indicators of business such as operating revenues and after-tax profits showed positive movements with the former increasing from Rs 12 crores during FY21-22 to Rs 21 crores during FY22-23, and the latter, during the same period, rising from Rs 14 lakhs to Rs 2.60 crores.
Coming onto the profitability ratios of the company, the return on equity (RoE), as well as the return on capital employed (RoCE), portrayed drastic movements in numbers with the former shifting up from 6.11 percent during FY21-22 to a whopping 70.12 percent during FY22-23, and, the latter, during the same horizon, moving up from 11.86 percent to 29.64 percent.
In addition to the above, the debt-to-equity ratio of the company, though above the desired level, reduced from 7.58 times during FY21-22 to 3.33 times during FY22-23. Likewise, the interest coverage ratio, during the same period, rose from 1.10 to 2.35.
Incorporated in 1996, Presstonic Engineering Limited is engaged in the business of manufacturing metro rail rolling stock, signalling, and other infrastructure products. The company also supplies to global as well as domestic OEMs in the rail and metro rail rolling stock, signalling equipment manufacturing, & servicing companies.
Written by Amit Madnani
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