Electrifying success: small-cap electrical company's PAT skyrockets by 116 per cent!
Company had given amazing return of more than 90 per cent over past year.
Salzer Electronics Ltd has reported its results for the fourth quarter and year ended March 31, 2023 on yesterday. In comparison to the same quarter last year, the company's net profit for the fourth quarter that ended on March 31, 2023, increased by 115.54 per cent to Rs 9.85 crore from Rs 4.57 crore on a consolidated basis. In Q4FY23, the company's total revenue climbed by 26.59 per cent to Rs 303.06 crore from Rs 239.40 crore in the same quarter the previous year.
The company reported a 63.72 per cent increase in net profit for the year ended March 31, 2023, reaching Rs 39.62 crore from Rs 24.20 crore on a consolidated basis. When compared to the year ended March 31, 2022, the company's total revenue climbed by 28.88 per cent, reaching Rs 1038.79 crore compared to Rs 806.02 crore for the year ended March 31, 2022.
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The board has recommended a dividend of Rs 2.20 per equity share with a face value of Rs 10 each, subject to the approval of shareholders in the upcoming 38th Annual General Meeting.
Yesterday the scrip closed at Rs 285.85, up by 4.74 per cent. Today it opened at Rs 291.15 and closed at Rs 316.65, up by 10.77 per cent. The company has given returns of more than 90 per cent over the past year.
The BSE group 'B' stock has a market cap of around Rs 500 crore. It has a 52-week high of Rs 345 and a 52-week low of Rs 160.
Salzer Electronics Limited is engaged in offering total and customized electrical solutions in switchgears, wires & cables and energy management business.