On Monday this small-cap stock gains up to 3% after reporting a 37% growth in net profit. This stock has delivered 110% returns in one year, therefore making an investment of 1 lakh one year ago now would be worth Rs. 2.10 lakhs.
Elecon Engineering Company Ltd
The company has a market capitalization of Rs. 8,785 Cr making it a small-cap company. On Monday the stock rose up to 3%, at 14:00 p.m., shares were trading 2.05% down at Rs. 789.30 on the BSE.
According to the company filing, the consolidated total revenue grew by 25% from Rs. 398.22 Cr in Q2 FY23 to Rs. 497.45 Cr in Q2 FY24 and the company’s net profit rose by 37% from Rs. 64.45 Cr in Q2 FY23 to Rs. 88.57 Cr in Q2 FY24. In this company, Mr. Vijay Kedia holds a 1.6% stake.
In addition, the company fixed the 31st October 2023, as a record date for the declaration of an interim dividend for FY 2023-2024 of Rs. 1 per share. This dividend will be paid to all the shareholders of the company on or after 8th November 2023.
As of September 2023, Promoters hold 59.29%, FIIs hold 4.88%, DIIs hold 2.93% and the public hold a 32.90% stake in the company.
Elecon Engineering Co Ltd is a company that makes material handling equipment and industrial gears. The company’s products include industry geared and reducers, material handling equipment, mining equipment and casting processes.
Written by Sheshadri N
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