Rajratan Global Wire zooms beyond 4 per cent with attractive Q1FY22 results
In 2021, the share has delivered powerful 299.32 per cent returns to its shareholders, whereas in the last one year, the share has gained 607.01 per cent.
On Wednesday, Rajratan Global Wire Ltd announced its quarterly results for the first quarter of FY22. The sales volumes for the company stood at 19,833 tonnes in Q1FY22 as compared to 9,239 tonnes recorded in Q1FY21, recording a significant rise.
The revenue & net profit numbers also exhibited a robust growth in Q1FY22 as against Q1FY21. The revenue for Q1FY22 was recorded at Rs 182.29 crore, which was Rs 64.65 crore in Q1FY21. Meanwhile, in Q1FY22, its net profit stood at Rs 21.92 crore as against Rs 1.65 crore in Q1FY21. EBITDA & PAT margins also strongly improved in Q1FY22 as against Q1FY21.
Talking about the major developments of the company, in India, it installed a new strand pickling line, enhancing the quality of finished goods while moderating costs. Also, it signed a memorandum of understanding (MoU) with Tamil Nadu Government for the purpose of setting up of new manufacturing facility in Southern India. In Thailand, it installed a new upgraded patenting line to enhance efficiency and environmental friendliness. Additionally, it initiated the process & efforts to expand Thailand's capacity from 40,000 TPA to 60,000 TPA. It also developed addit ional raw material sourcing points and charted plans for strengthened logistics and supply chain from India.
The company is expecting a boost in demand from the domestic as well as international markets. The Indian tyre companies are now getting back to their peak capacity utilisations. The company also has plans to expand its customer base across the USA and Europe. The company is in constant efforts to outperform and work as a team in current challenging times and return value to its shareholders.
Rajratan Global Wire (RGWL) is one of the leading manufacturers of high carbon steel wire in India, specialising in automotive tyre bead wire, high-quality spring & rope wires.
Meanwhile, today, the share of Rajratan Global Wire is trading at Rs 1,770, which is 4.5 per cent up on an intraday basis. In 2021, the share has delivered powerful 299.32 per cent returns to its shareholders, whereas in the last one year, the share has gained 607.01 per cent.