The shares of the gold jewelry manufacturer hit 5 percent upper circuit after the company received a prestigious work order from the Tata Group company, worth Rs 15 crore.
With a market capitalization of Rs 265.99 crore, the shares of Ashapuri Gold Ornament Ltd were trading at Rs 7.98 per share, increasing around 5 percent as compared to the previous closing price of Rs 7.60 apiece.
Reason for rise:-
The shares of the company have seen such a bullish movement after Ashapuri Gold Ornament Ltd received a prestigious work order from Titan Company Limited for the Supply of Gold Jewellery of gold. The value of this order is Rs 15 crore.
Financial Condition:-
Examining the company’s financial performance, revenue magnified by 121 percent from Rs 19.95 crore in Q1FY24 to Rs 44.23 crore in Q1FY25, but during the same time frame, net profit zoomed significantly by 94 percent from Rs 0.47 crore to Rs 2.69 crore.
Manufacturing and Design:-
Ashapuri Gold Ornament creates its items internally or through third-party designers, and its jewelry is manufactured on a job-for-hire basis in Ahmedabad and Rajkot. The firm has a vast inventory of designs, and production competence, and provides excellent service.
Customer Base:-
Ashapuri Gold Ornament Limited serves a diverse spectrum of consumers in the jewelry sector, including well-known brands such as Malabar Gold, Tribhovanda Bhimji Zaveri Ltd, Titan, and others.
Financial Ratios:-
In terms of major financial indicators, the firm recorded a return on equity (RoE) of 8.25 percent and a return on capital employed (RoCE) of 11.63 percent for the fiscal year 23-24. Furthermore, the net profit margin for FY23-24 was 4.49 percent.
Shareholding Pattern:-
According to the most recent ownership pattern, promoters control 48.06 percent of the shares, retail investors own 50.19 percent, and foreign institutional investors (FIIs) possess the remaining 1.74 percent.
Company profile:-
Ashapuri Gold Ornament Limited is an India-based manufacturer and wholesaler of gold jewelry. The Company is engaged in manufacturers and wholesalers of gold jewelry. The design of the
Company products is done either in-house or by third parties on the Company’s behalf and get the Jewelries manufactured on a job-work basis.
Written by:- Abhishek Singh
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