Market capitalization Rs 1150 Crore: Microcap Electronics Manufacturer Receives Order Worth Rs 390 Crore
The orders are based on standard terms and conditions commonly accepted by the company and do not involve any related parties.
Vinyas Innovative Technologies Limited, an electronics manufacturing services (EMS) provider, has announced the receipt of purchase orders worth Rs 390 crore from a domestic customer. The orders are based on standard terms and conditions commonly accepted by the company and do not involve any related parties. Furthermore, none of the promoter group or group companies have any interest in these contracts.
Earlier this month, on December 3, the company had already secured purchase orders worth Rs 48.03 crore from a diverse range of domestic and international customers.
About the Company
Incorporated in 2001, Vinyas Innovative Technologies Limited provides design, engineering, and electronics manufacturing services catering to global OEM and ODM manufacturers in the electronics industry. Its key product is printed circuit boards (PCBs).
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The company has a market cap of Rs 1,153 crore. According to half-yearly results, net sales increased by 20.72 per cent to Rs 137.25 crore, and net profit rose by 86.7 per cent to Rs 5.64 crore in H1FY24 compared to H1FY23. In its annual results, net sales increased by 13 per cent to Rs 235 crore, and net profit surged by 600 per cent to Rs 7 crore in FY23 compared to FY22.
On Monday, shares of Vinyas Innovative Technologies Ltd jumped by 2.00 per cent to Rs 916.70 per share. The company has an ROE of 20 per cent and an ROCE of 18 per cent. The stock has delivered returns of over 75 per cent from its 52-week low of Rs 520.00 per share. Investors should keep an eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.