Shares of this microcap company surged 8 percent in Friday’s trading session after receiving an order worth Rs. 36 crores. On a YTD basis, the shares have delivered 30 percent returns to its shareholders.
With a market capitalisation of Rs. 113 crores, the shares of Pritika Engineering Components Ltd started on a flatter note at Rs. 80.10 compared to its previous close of Rs. 80. During the trading session, the shares hit a high of Rs. 89.90, gaining around 8 percent and are currently trading at Rs. 86 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that it had received a substantial order from an existing leading domestic tractor manufacturer for annual castings which is to be produced in the company’s foundry. The total annual value of the order is approximately Rs. 36 crores.
Coming onto the company’s financial statements, the revenue decreased marginally by 1.8 percent from Rs. 22.75 crores during the September quarter to RS. 22.34 crores in the December quarter. On the other hand, the net profits zoomed by 26 percent from Rs. 92 lakhs to Rs. 1.16 crores during the same period.
Looking at the company’s financial ratios, the return on equity was recorded at 12.70 percent during FY22-23 and the return on capital employed was at 12.37 during the same timeframe. Furthermore, the net profit margin for the period FY22-23 was 4.29 percent.
According to the latest shareholding pattern, the Promoters hold 74.60 percent of the stakes and the remaining 25.40 shares are with the General Public or the Retail Investors.
Headquartered in Punjab, Pritika Engineering Components was incorporated in 2018. The company manufactures customized products for tractors, commercial vehicles and other construction equipment, etc which are supplied to Original Equipment Manufacturers (OEMs) directly/through the group companies.
Written By Vaibhav Patil
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