Synopsis:
A cash payment of Rs. 37.49 crore was made by Elpro International Limited to purchase 190,300 shares of HDFC Bank.
The shares of real estate stock is engaged in manufacturing surge arresters, construction and development of real estate properties came to spotlight after acquiring equity shares worth 1,90,300 of HDFC Bank Limited by paying cash consideration of Rs.37.49 crores.
With a market capitalization of Rs.1,503 crore, the shares of Elpro International Limited closed at Rs.86.64, down by 0.41 percent from the previous day’s closing price of Rs.87.
Acquisition
As per the latest press release on BSE, Elpro International Limited has brought 1,90,300 equity shares in HDFC Bank Limited by making a cash payment of Rs. 37.489 crore for the acquisition.
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About the company & Operational Front
Elpro International Ltd incorporated in 1962 is specializes in the business of manufacturing of Other Electrical Equipments like Lighting Arresters, varistors. surge arrestor,also it is engaged in Real Estate development and services.The company’s main core operation is producing X-ray equipment for both medical and industrial use.
Along with it also makes alnico magnets for household and industrial purposes, calrod heating elements for domestic, industrial, and medical applications. It supplies lightning arresters mainly to state electricity boards, power project contractors, and industry consultants.
For X-ray equipment, its key customers include private radiologists, clinics, and large hospitals in both the public and private sectors.Its manufacturing plant is located in Chinchwad, Pune, Maharashtra.
The company posted revenue of Rs.99.71 crore in Q1FY26, down from Rs20.60 crore in Q1FY25, while net profit increased slightly to Rs. 74.32 crore from Rs.47.54 crore. EPS grew from Rs.2.81 to Rs.4.39.ROE is 3.63 percent and ROCE is 5.64 percent. With a P/E ratio of 28.57 against the industry average of 39.62, the stock considered undervalued compared to its peers.
Written by Jhanavi Sivakumar
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