Engineering stock engaged in the manufacturing of a special range of critical process equipments like filtration mixing and drying equipments in focus after Ace Investor Ashish Kacholia picks a stake in it.
With a market capitalization of Rs. 458 Crores, the shares of BEW Engineering Limited were trading at Rs. 1,572, up 1.29 percent from its previous day’s close price of Rs. 1,552.
The Board of Directors of BEW Engineering Limited has considered and approved the allotment of 3,56,164 Equity Shares of Face Value of Rs. 10 each at a premium of Rs. 1530 each amounting to the tune of not exceeding Rs. 55 Crores to Strategic Investors on Preferential Allotment basis.
Out of the strategic investors to whom the equity shares of the company have been allotted, Ace Investor Ashish Kacholia has subscribed to the highest proportion of equity shares i.e., 1,36,987 equity shares.
In Addition, Ace Investor Ashish Kacholia has subscribed to an additional 1,36,987 equity shares of the company through his investment firm Himalaya Finance & Investment Co., taking the total holding to 2.74 Lakh equity shares of the company.
BEW Engineering Limited is engaged in the manufacturing of a special range of critical process equipments like filtration mixing and drying equipment for the pharmaceutical, chemical industry, and other industries.
It has a strong customer base with well-known players like Cipla, Biocon, Sun Pharma, Emcure, Ipca Laboratories, Dr Reddy’s, SRF, Granules, Rallis India and many others.
Its revenue from operations grew by 6.23 percent from Rs. 99 Crores in FY22 to Rs. 106 Crores in FY23, accompanied by increasing profits of Rs. 6 Crores to Rs. 7 Crores.
It has reported a return on equity (ROE) of 31.8 percent, a return on capital employed (ROCE) of 24.9 percent, and it has reported a debt-to-equity ratio of 0.77.
Written by: Bharath K.S
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