The shares of one of India’s leading suppliers of automation solutions gained up to 7 percent to Rs 126 a share on Tuesday after the company received an order worth Rs 7.57 crore from ONGC.
At 12:40 p.m. on Tuesday, Sunrise Efficient Marketing Ltd(SEML) shares were trading at Rs 120 a share on the Bombay Stock Exchange, up 1.69 percent from the previous close.
The company reported in its exchange filing that it received an order worth Rs 7.57 crore from ONGC for the supply and development of FLP HIGH MAST, lighting for ONGC colony residences at Hazira.
The order includes the design & supply of 21 no’s FLP HIGH MAST of 30-metre height and 46 no’s Non-Flp High Mast of 30-metre height, plus some 20 Meter Flp as well as Non-Flp high mast and accessories.
In addition, Recently SEML bagged an order worth Rs 13 crore for the supply of Various sizes of cables & accessories. The company’s shares have delivered returns of 3 percent in six months and 95 percent in a year.
The company’s operational revenue has increased by 50 percent year on year, from Rs 64 crore in FY 21-22 to Rs 96 crore in FY 22-23. In the same time frame, net profit has increased by 100 percent from Rs 4 crore to Rs 8 crore.
The company’s operating margin increased from 11.55 percent in FY22 to 12.51 percent in FY23, while the Net profit margin rose from 7.60 percent to 8.26 percent during the same period.
As per the latest shareholding pattern, promoters own 72.4 percent of the company, while retail investors hold 27.6 percent.
Sunrise Efficient Marketing Limited is engaged in the business of distributing, trading, and wholesaling different types of industrial products such as electrical items, electronic items, spare parts, etc.
Written by Omkar Chitnis
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