Dixon Technologies' Peer Company's Stock Hits Upper Circuit Today: This LED Manufacturing Firm's Profit Soars from Rs 1 Crore to Rs 13 Crore in Just 3 Years!
The company manufactures LED display systems for commercial applications, including advertising media, billboards, boardrooms, presentations, and command centers.
Founded in 2006, Osel Devices Limited manufactures LED display systems designed for commercial applications. These systems serve as essential components for advertising media, billboards, corporate boardrooms, presentations, display promotions, command centers, and front signs.
Osel's LED display systems are equipped with an integrated content management system that enables users to connect via phone or computer, allowing for efficient content management and display on the screens. The company also manufactures hearing aids, catering primarily to the Artificial Limbs Manufacturing Corporation of India.
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At the start of the day's trading session, shares of Osel Devices Limited opened at Rs 180.55 per share, compared to the previous day's closing figure of Rs 180.35 per share on the BSE. Currently, the shares closed at Rs 189.35 per share. The stock has rallied 5 per cent today and hit the upper circuit, reflecting strong demand in the market. The company's current market capitalization stands at Rs 305.41 crore. Additionally, the company’s shares have delivered an impressive return of around 20 per cent compared to the final IPO price of Rs 160 each.
The company have not announced its latest Quarterly Results so far after listing. Looking at the annual performance, the company generated a revenue of Rs 132 crore in FY24. The operating profit for FY24 was Rs 22 crore with a net profit of Rs 13 crore compared to a net profit of Rs 5 crore in FY23 representing a 160 per cent growth on a YoY basis. Furthermore, the company’s profit has surged from Rs 1 crore which was in FY21 to Rs 13 crore in FY24.
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Investors must keep this micro-cap company on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.