IPO Riding High on Success: Achieves 100 per cent profit growth, declares Interim Dividend but Director Resigns
Currently, the stock is trading at Rs 379.50, with 9 consecutive green days.
In the second quarter of FY24, the company demonstrated robust financial performance across key indicators. Operational revenue surged to Rs 210.52 crore, marking a substantial quarter-on-quarter growth of 52.58 per cent, and an impressive year-on-year growth of 73.88 per cent. Furthermore, net profit exhibited an even more striking performance, reaching Rs 45.28 crore, representing a staggering quarter-on-quarter growth of 99.73 per cent and year-on-year growth of 53.70 per cent. The substantial increase in net profit underscores the company's effective cost management and operational efficiency. Overall, these financial results indicate a strong and positive trajectory for the company as the fundamentals are good.
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Particulars
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Q2 FY24
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Q1 FY23
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Q2 FY23
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QoQ growth
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YoY growth
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Revenue from Operations
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210.52
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137.97
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121.07
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52.58%
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73.88%
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Net Profit
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45.28
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22.67
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29.46
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99.73%
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53.70%
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(All above figures are in crore)
In a recent corporate announcement, the company has declared an interim dividend of 10 per cent, equivalent to Rs 1.00 per equity share with a face value of Rs 10 each, fully paid up, for the Financial Year 2023-24. The record date has been fixed as Friday, November 24, 2023. Shareholders can anticipate receiving the interim dividend starting from Monday, December 04, 2023.
Additionally, the company announced the immediate resignation of Shri Neeraj Srivastava from the position of Director. The resignation, effective immediately, is attributed to Shri Srivastava's other professional engagements and personal reasons.
Stock Performance
EMS Ltd, a recently listed IPO, made a debut on the stock market with a listing price of Rs 282.08, reflecting an impressive listing gain of 33.7 per cent. Investors experienced a total return of 35.44 per cent. The firm boasts its financial position with a promoter holding of 69.7 per cent, highlighting the promoter’s confidence in the business. The company has a healthy Return on Equity at 24.8 per cent. EMS Ltd almost has debt-free status adds a favourable dimension to its financial profile. Currently, the stock is trading at Rs 379.50, with 9 consecutive green days.
About Company
EMS Limited is a Delhi-based EPC company that provides turnkey services in water and wastewater collection, treatment, and disposal. They offer complete, single-source services for all your water, wastewater, and domestic waste treatment needs.
Disclaimer: The article is for informational purposes only and not investment advice.
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