Turnaround Story: Microcap Company Secures International Orders Worth USD 3,02,000 Across Europe & Middle East – Q1 FY25 Profits Surged by 900 Per cent!
The company’s shares have delivered an impressive return of around 50 per cent to its shareholders.
This micro-cap company, known for its advanced Twisting Machines and Heat Setting Machines, has announced the successful acquisition of international orders worth USD 302,000. Despite the current global economic challenges, these orders underscore the company's remarkable technological expertise and the increasing worldwide acceptance of its patented solutions.
The orders span across Europe and the Middle East demonstrating the rising demand for MEERA's state-of-the-art machinery. Among the secured orders is MEERA's TPRS Twister, a patented technology recognized as the world's most efficient solution for producing fishing twine. This technology is gaining rapid acceptance among fishing twine manufacturers worldwide. The orders include the MEERA Spun Twister, a robust and energy-efficient Two-for-One (TFO) twister. Designed with high ergonomic standards, this machine is ideal for producing various staple yarn products used in knitting and weaving.
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Currently, the shares of Meera Industries are trading at around Rs 64.90 per share on the BSE. The company’s current market capitalization stands at Rs 69.32 crore. Additionally, the shares have delivered an impressive return of over 35 per cent in the past one month.
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As per the Quarterly Results, in Q1 FY25, Meera Industries recorded a revenue of Rs 9.91 crore. The operating profit stood at Rs 1.18 crore. The net profit for Q1 FY25 was Rs 0.90 crore compared to Rs 0.09 crore representing a surge of 900 per cent YoY. Looking at the annual performance, the company generated a revenue of Rs 30.14 crore in FY24. The operating profit for FY24 was Rs 2.96 crore with a net profit of Rs 1.47 crore compared to a net loss of Rs 1.84 crore in FY23.
According to the company's shareholding pattern, the promoters hold a significant 64.19 per cent stake. Public investors own 35.81 per cent of the shares.
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Investors must keep this stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.