During Thursday’s trading session, the shares of this micro-cap company engaged in the marketing and distribution of steel products surged 3.3 percent to Rs. 52.93 on BSE, after the company announced securing an order worth Rs. 2.75 crores from Coca Cola India Private Limited.
With a market cap of Rs. 129.1 crores, at 11:12 am., the shares of Ganesha Ecoverse Limited were trading in the green at Rs. 52.49, up by nearly 2.5 percent, compared to its previous closing price of Rs. 51.23.
What’s the news:
Ganesha Ecoverse Limited has established a strategic business relationship with Coca Cola India Private Limited and has received an order for the supply of sustainable jackets.
According to the latest regulatory filings with the BSE, the order is valued at Rs. 2.75 crores, with an execution time period of three months.
Financials:
The company experienced a significant growth in its revenue from operations, showing a year-on-year increase of around 5830 percent from Rs. 0.1 crores in FY23 to Rs. 5.93 crores in FY24.
Similarly, its net profit increased during the same period from a loss of Rs. 2.34 crores to a profit of Rs. 4.23 crores.
Shareholding Pattern:
According to the June 2024 shareholding pattern, the Promoters hold a 1.34 percent stake in the company, while the Retail Investors hold a 98.65 percent stake in Ganesha Ecoverse.
Stock Performance
The stock has delivered negative returns of nearly 5.6 percent in one year, while around 7.2 percent of positive returns in the last six months. So far in 2024, the shares of Ganesha Ecoverse have given about 4.3 percent of positive returns.
About the company:
Incorporated in 2003, Ganesha Ecoverse Limited, formerly known as SVP Housing Limited, focuses on marketing and distribution of steel products.
The company is engaged in the business of marketing and distribution of steel products like TMT bars, rolled products, billets, colour-coated sheets, ingots and steel pipes and tubes.
Written by Shivani Singh
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