Tool manufacturing company bags a new order from Renault Group
The company has a market cap of Rs 197 crore and stock is up by 37 per cent from its 52-week low of Rs 175 per share.
As per the exchange filings De Neers Tools Limited has received an order from Renault Group, a mainstream automotive company for the supply of 30,000 tool kits for an undisclosed amount. The delivery of the toolkits is scheduled between September 2024 and October 2024.
In May, the company expanded its presence into Dubai by incorporating a wholly owned subsidiary, Deneers Tools Trading L.L.C.
About the company:
Incorporated in 1952, De Neers Tools Limited supplies industrial tools and is one of the few key players in the hand tool industry as per the industry report of CareEdge. The company has a dealer network of over 300 dealers across India.
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The company's financial performance for FY24 was strong, with a net profit increase of 24.83 per cent to Rs 8.66 crore compared to Rs 6.94 crore in FY23. Revenue from operations grew by 15.51 per cent to Rs 109.8 crore from Rs 95.05 crore. These results demonstrate the company's continued growth and profitability. Notably, the company achieved a return on equity (ROE) of 30.68 per cent and a return on capital employed (ROCE) of 14.35 per cent in FY24, indicating efficient utilization of resources.
Its product portfolio includes Steel Hand Tools, Stainless Steel Tools, Non-Sparking Tools, Insulated Tools, Tool Kits, Toolboxes, and Trolleys. The client base features top companies such as Polycab, Havells, Indian Railways, Indian Oil, Eicher Motors and Tata Steel. The company has a market cap of Rs 197 crore and stock is up by 37 per cent from its 52-week low of Rs 175 per share.
Disclaimer: The article is for informational purposes only and not investment advice.