Multibagger stock engaged in designing and manufacturing a range of products under the electrical components domain with different applications and utilities jumped upto 3 percent in the day’s trade upon signing a strategic business agreement with Fischer Medical Ventures Limited.
With a market capitalization of Rs. 2,153 Crores, the shares of Spectrum Electrical Industries Limited were trading at Rs. 1,380, down 3.16 percent from its previous day’s close price of Rs. 1,425. It has delivered multibagger returns of 263 percent.
Spectrum Electrical Industries Limited has signed an Agreement with Fischer Medical Ventures Limited for the Co-Development, Manufacturing, Sourcing, and Supply of MRI Machine Components to Fischer Medical Ventures Limited
Spectrum Electrical Industries Limited designs and manufactures a range of products under the electrical components domain with different applications and utilities. It undertakes activities such as designing, fabrication, molding, powder coating, surface coating, and assembling to develop these products.
Its product portfolio includes mini miniature circuit breakers (MCB) base and cover, distribution board, modular electric board panels, lamp angle holdersair conditioner (AC) boxes, surface coating services, and many more.
Its revenue from operations grew by 0.82 percent from Rs. 251 Crores in FY22 to Rs. 253 Croes in FY23, accompanied by profits of Rs. 8 in both years.
It has reported a return on equity (ROE) of 9.60 percent and a return on capital employed (ROCE) of 11.4 percent, it is making decent returns on its equity and capital employed.
Written by: Bharath K.S
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