FIIs & DIIs Increased Stake Heavy Buying, Hits 52-Week High Smart Metering Solution Provider Stock Hit Upper Circuit; Gains Over 5,840 per cent in Just 3 Years!
The shares of the company have delivered a return of over 210 per cent to its shareholders in just 1 year only.
Incorporated in 1994, RMC Switchgears Ltd specializes in Switchgear Engineering and ECI contracts for the power distribution and transmission sectors. The company is an ISO certified company. It engages in researching, designing, and manufacturing electronic smart energy meter enclosures, distribution boxes, panels, and various electrical safety and distribution equipment. Their product range includes materials such as plastics, fiber-reinforced plastics, and sheet metals. Additionally, the company provides comprehensive solutions encompassing Engineering, Procurement, and Construction (EPC). On Friday the company experienced a significant surge in its share price.
On Friday, the share of RMC Switchgears Ltd opened at Rs 677.90 per share, compared to the previous day's closing figure of Rs 645.65 per share on the BSE. Finally, the shares closed at Rs 677.90 per share on the BSE. The stock has reached the upper circuit price limit of 5 per cent, reflecting strong demand in the market with no sellers willing to offer shares, resulting in potential buyers being unable to make purchases, leading to disappointment among buyers. The current market capitalization of RMC Switchgears Ltd stands at Rs 698.80 crore, and the stock has generated an impressive multibagger return of around 3869 per cent in the past 2 years.
Financial Performance
As per the Quarterly Results, in the fourth quarter of FY24, RMC Switchgears Ltd recorded a revenue of Rs 85 crore. The operating profit for Q4 FY24 stood at Rs 14 crore. The net profit for Q4 FY24 was Rs 7 crore. Looking at the annual performance, the company generated a revenue of Rs 173 crore in FY24, compared to Rs 125 crore in FY23. The operating profit for FY24 was Rs 34 crore, with a net profit of Rs 15 crore.
Regarding the shareholding pattern, the promoters own 52.93 per cent of the company and the public or retail investors hold 43.55 per cent. Both the FIIs and DIIs have increased their stake in the company in the recent quarter.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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