Material Handling Solutions Provider Partners with Snorkel Europe as Official Sales and Service Partner for Northern and Eastern India; Stock Hits Upper Circuit Today!
The company’s shares have delivered multibagger returns of over 1400 per cent to its shareholders in just 2 years.
TIL Limited is engaged in manufacturing and marketing a wide array of material handling, lifting, port, and road construction solutions. The company is also committed to providing integrated customer support and after-sales service.
TIL Limited has announced a strategic partnership with Snorkel Europe Limited, becoming the official Sales and Service partner for Northern and Eastern India, the Andaman and Nicobar Islands, Nepal, and Bhutan. This collaboration will see Snorkel providing its extensive product range, including aerial work platforms, telehandlers, and material lifts, along with its technical expertise and support. Meanwhile, TIL will utilize its extensive customer network across these regions to deliver high-quality equipment and services.
TIL has established itself as a leading provider of engineered solutions for material handling, mining, construction, and the defence sector. The company’s defence equipment has been a staple in India’s tri-services for decades, and its retail equipment portfolio includes ReachStackers, Rough Terrain Cranes, Truck Mounted Cranes, and Pick and Carry Cranes, among others.
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This new partnership with Snorkel Europe will enable TIL to expand its product offerings and tap into new market segments, further strengthening its presence and service capabilities in India, Nepal, and Bhutan.
Today shares of TIL Limited closed at around Rs 405.55 per share. The company’s current market capitalization stands at Rs 2701.55 crore. Additionally, the shares have delivered a multibagger return of over 1400 per cent in the past 2 years.
As per the Quarterly Results, in Q4 FY24, TIL recorded a revenue of Rs 31 crore. The operating loss for Q4 FY24 stood at Rs 28 crore. The net profit for Q4 FY24 stood at Rs 169 crore compared to a loss of Rs 25 crore last year same quarter. Looking at the annual performance, the company generated a revenue of Rs 67 crore in FY24. The operating loss for FY24 was Rs 76 crore with a net profit of Rs 254 crore compared to a net loss of Rs 91 crore in FY23.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.