Rs 26,00,00,000 loan re-paid: This micro-cap company achieved a 24 per cent reduction in its overall debt

The stock is down by 48 per cent from its 52-week high of Rs 11.47 per share while the stock is up by 53 per cent from its 52-week low of Rs 3.96 per share.

East West Holdings Limited successfully repaid Rs 26,00,00,00 to banks, achieving a 24 per cent reduction in its overall debt. This accomplishment is part of the company's pre-defined debt reduction program, which aims to make the business debt-free in the long run. To achieve this goal, the Board of Directors in June 2021 authorized the sale of a property located at "Time Square" Village Marol, Andheri Kurla Road, Andheri East, Mumbai, with the proceeds specifically allocated to pay down loans and reduce debt by 20 per cent to 30 per cent, ultimately improving the company's debt-to-equity ratio.

East-West Holding Limited is engaged in providing logistics and allied solutions through its wholly-owned subsidiary East West Freight Carriers Limited. The Company provides services in the trade of Global Logistics and Freight Forwarding. The company has a total investment of 40 crores in its subsidiary. East-West Holding Limited a micro-cap company has a market cap of Rs 77 crore.

The company announced its Quarterly Results (Q3FY24) and nine-month results (9MFY24) for the financial year 2024. According to the quarterly results, the company reported net sales of Rs 42.04 crore in Q3FY24 while the company reported net sales of Rs 43.43 crore and 63.55 crore in Q2FY24 and Q3FY23 respectively. The company's financial health has seen a dramatic turnaround, with its net profit surging by 244 per cent to Rs 0.31 crore in Q3FY24 compared to the previous quarter. This marks a significant improvement from a net loss of Rs 1.22 crore in the same period last year, highlighting a remarkable comeback for the company.

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The company's nine-month results (9MFY24) showed a 28.61 per cent decrease in net sales to Rs 140.34 crore compared to Rs 196.57 crore in 9MFY23. However, there was a turnaround in net profit, with a profit of Rs 0.44 crore compared to a loss of Rs -1.18 crore in 9MFY23.

Today, shares of East West Holdings Ltd surged 0.50 per cent to Rs 6.05 per share from its previous closing of Rs 6.02 per share with an intraday high of Rs 6.14 and an intraday low of Rs 5.80. The stock is down by 48 per cent from its 52-week high of Rs 11.47 per share while the stock is up by 53 per cent from its 52-week low of Rs 3.96 per share.

According to the shareholding pattern of the company, the promoters own a 61.28 per cent stake, FIIs own a 3.69 per cent stake and the public owns 35.03 per cent of the company as of December 2023.

Disclaimer: The article is for informational purposes only and not investment advice.