Power Transformer Manufacturing Stock Hits Upper Circuit Today; FIIs Increase Stake, Results Announcement Scheduled for Next Week
The company’s shares have delivered a multibagger return of over 350 per cent in the last 1 year.
Indo Tech Transformers Ltd specializes in manufacturing power and distribution transformers, including special application transformers, mobile substation transformers, and complete substations. The company produces a range of transformers for various sectors, such as transmission, generation, hydro, wind, solar, steel, cement, textiles, utilities, and distribution companies. With over 56,000 transformers of various ratings up to 245 KV installed, Indo Tech Transformers serves substations and industries across India and globally.
The Company’s Board of Directors will convene on Tuesday, August 6, 2024, to review and approve the unaudited financial results for the quarter ending June 30, 2024.
At the start of the day's trading session, the stock opened at Rs 2025 per share, compared to the previous day's closing figure of Rs 2024.15 per share on the BSE. As of the time of writing this article, the shares are currently at Rs 2125.35 per share. The stock has hit the upper circuit, reflecting strong demand in the market. The company's current market capitalization stands at Rs 2257.12 crore, and the stock has generated an impressive multibagger return of over 350 per cent in the past 1 year.
As per the Quarterly Results, in Q4 FY24, Indo Tech Transformers Ltd recorded a revenue of Rs 175 crore. The operating profit for Q4 FY24 stood at Rs 27 crore. The net profit for Q4 FY24 was Rs 26 crore. Looking at the annual performance, the company generated a revenue of Rs 504 crore in FY24, compared to Rs 371 crore in FY23. The operating profit for FY24 was Rs 60 crore with a net profit of Rs 47 crore.
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According to the shareholding pattern of Indo Tech Transformers Ltd, promoters own a 75 per cent stake, while public investors hold 24.58 per cent. Foreign Institutional Investors (FIIs) hold 0.42 per cent. In the most recent quarterly update, FIIs have increased their stake from 0.02 per cent to 0.42 per cent.
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Disclaimer: The article is for informational purposes only and not investment advice.