4:1 Bonus Share & 100:10 Stock Split: Multibagger Electrical Product Manufacturer Acquired 30 Per Cent Stake In UltraFast Chargers (P) Ltd
The stock gave multibagger returns of 1,700 per cent in 1 year and a whopping 5,600 per cent in 3 years.
On Friday, shares of Kaycee Industries Ltd were locked in a 2 per cent lower circuit to Rs 4,426.80 per share from its previous closing of Rs 4,517.10. The stock’s 52-week high is Rs 4,897.15 per share and its 52-week low is Rs 208 per share.
Kaycee Industries Limited, a subsidiary of Salzer Electronics Ltd, has successfully acquired a 30% stake in Ultrafast Chargers Private Limited. This strategic investment marks a significant step for both companies as they enter the burgeoning electric vehicle charging market. Ultrafast Chargers, a Bangalore-based startup, specializes in high-performance DC fast charging stations that cater to various electric vehicle types, including cars, buses and trucks. The acquisition will not only provide Kaycee with a substantial stake in a promising company but also leverage Ultrafast Chargers' innovative technology and expertise.
By combining Kaycee's extensive experience in electrical solutions with Ultrafast Chargers' advanced charging technology, the partnership aims to accelerate the adoption of electric vehicles in India. This strategic move positions Kaycee and Salzer as key players in the country's transition towards sustainable mobility. The acquisition also underscores the growing importance of electric vehicle infrastructure development and the potential for significant growth in this sector.
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About the Company
Founded in 1942, Kaycee Industries Ltd, a subsidiary of Salzer Electronics Ltd, manufactures and supplies industrial electrical switches, mechanical counters, hour meters, cable lugs and various other electrical components to diverse sectors like power, telecom and renewables. Their product range includes rotary switches, toggle switches, stroke counters, digital time totalizers, and more, with a manufacturing capacity of 500 tons per month. They boast a prestigious clientele including the Airport Authority of India, Indian Oil, Airtel and ABB.
The company has executed a 4-for-1 bonus share issue and a 100-for-10 stock split on July 5, 2024. According to Quarterly Results, the net sales increased by 11.5 per cent to Rs 12.61 crore and net profit increased by 72.4 per cent to Rs 1.50 crore in Q1FY25 compared to Q1FY24. In its annual results, the net sales increased by 17 per cent to Rs 48.81 crore and net profit increased by 29 per cent to Rs 4.49 crore in FY24 compared to FY23.
The company has a market cap of over Rs 1,400 crore with a 3-year stock price CAGR of 200 per cent. The stock gave multibagger returns of 1,700 per cent in 1 year and a whopping 5,600 per cent in 3 years.
Disclaimer: The article is for informational purposes only and not investment advice.
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